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The Benefits Of Servicing With Rocket Mortgage

Kevin Graham3-minute read

September 08, 2021


Going through the mortgage purchase or refinance process can sometimes be scary. It’s for this reason that you’ll want a mortgage company in your corner to take you through the twists and turns of each part of the process.

You want the advantages that come from years of experience, with company qualities like customer service, convenience and access to technology, to name a few.

One important factor to consider when selecting a mortgage company is whether it services loans. A mortgage company that will service your loan after you close can be a huge benefit, but you have to know what to look for.

What Is Mortgage Servicing?

Your mortgage servicer manages your mortgage from just after closing until the loan is paid off. A few responsibilities of a mortgage servicer include:

  • Collecting monthly payments
  • Maintaining records of payments and loan balances
  • Providing timely communication
  • Paying taxes, as well as homeowners and (if applicable) mortgage insurance
  • Overseeing the escrow and impound accounts
  • Following up on delinquencies

For example, Rocket Mortgage® is both a mortgage originator – responsible for lending you the money to finance your mortgage – and a servicer, managing the payments until your loan is paid off. Instead of the relationship ending at the closing table, you’ll receive outstanding service throughout the life of your loan.

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Benefits Of Rocket Mortgage Servicing

Now that we’ve distinguished the difference between a mortgage lender and servicer, let’s examine the qualities you should look for when choosing a mortgage company for your loan.

Fewer Servicing Fees

Rocket Mortgage charges fewer servicing fees than most other servicers. Most importantly, there’s no charge to make a payment on your mortgage, whether over the phone or online. This free service can save you hundreds – even thousands – of dollars over the life of your loan, as most servicers charge clients to use their payment options, like paying over the phone or using their websites.

That said, when choosing a mortgage company, make sure you ask about any additional fees that will be added on top of your mortgage payments.

Multiple Payment Options

Convenience is an important factor when comparing different mortgage lenders and servicers.

On top of checking out the servicing fees, you’ll want to explore the payment options provided by the servicer in question, such as over-the-phone payments and recurring payment schedules.

Rocket Mortgage, in addition to having no service charges for a payment, provides several different payment options:



When life gets busy, sometimes it’s hard to keep up with all the paperwork and payments that come with getting a mortgage. At Rocket Mortgage, you have access to a personal online account, allowing you the ability to:

It’s the 21st century, and it’s important for your mortgage company to recognize the value and convenience that can come with access to top-notch technology.

Client Experience

When searching for a mortgage company, you’ll want to choose one that goes above and beyond what’s typically expected during the home buying process. You’ll also want a company that cares about its clients.

We are obsessed with finding a better way and improving your experience. As an example, we recently made several changes to simplify our process for clients dealing with open homeowners insurance claims. These should enable you to move forward faster.


Credentials and Awards

As the nation’s seventh-largest mortgage servicer, Rocket Mortgage has serviced more than 2.2 million mortgages since 2010. Better than 90% of our clients would recommend us to a friend or colleague.1
For the 7th year in a row, J.D. Power ranked us highest in the nation for Mortgage Servicing. And for 11 years in a row now, they also ranked Rocket Mortgage highest in the nation in customer satisfaction for Primary Mortgage Origination.2

If you’re ready to make the leap into homeownership, make sure you do your homework. Many mortgage companies boast the “lowest rates,” but not all will talk about (or even offer) mortgage servicing. Make sure when you do choose a mortgage lender, you choose one that provides topnotch loan servicing so your home buying experience is a positive one.

Are you ready to get started? You can apply online today!

1 Based on a Rocket Mortgage market research questionnaire of clients whose loans closed between January 1, 2020, and June 30, 2020.

2 Rocket Mortgage received the highest score in the J.D. Power 2010 – 2020 (tied in 2017) Primary Mortgage Origination and 2014 – 2020 Primary Mortgage Servicer Studies of customers’ satisfaction with their mortgage sales experience and mortgage servicer company, respectively. Visit JDPower.com/awards.

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Kevin Graham

Kevin Graham is a Senior Blog Writer for Rocket Companies. He specializes in economics, mortgage qualification and personal finance topics. As someone with cerebral palsy spastic quadriplegia that requires the use of a wheelchair, he also takes on articles around modifying your home for physical challenges and smart home tech. Kevin has a BA in Journalism from Oakland University. Prior to joining Rocket Mortgage, he freelanced for various newspapers in the Metro Detroit area.