Charlotte Observer (NC) (05/30/08)
Bank of America received the highest score in J.D. Power and Associates' latest annual survey on customer service in home equity lending. On a 1,000-point scale, consumers who recently obtained a home equity loan or line of credit gave Bank of America a score of 811, rated SunTrust second and then Wachovia, which was the top bank the past two years. Countrywide Financial came in last place among the big lenders, with a score of 728. The industry average rose 14 points from a year ago to 780; and Tim Ryan, a senior research director at J.D. Power, believes the gain can be attributed to the low expectations that some customers had for the home equity lending process due to the current problems in the housing and mortgage markets.
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