how important is BBB rating for mortgage companies

While BBB, Yelp, etc. shouldn't be ignored, there are far more important metrics and ratings for mortgage companies. HUD Neighborhood Watch is a good one.

The BBB isn't the only rating source for Mortgage Lenders. While it can be a very important source of information, there are other ratings that can be equally useful. The testimonials from past clients, as well as reputation in the industry are also very important. A lot of good companies aren't even part of the BBB so won't have any ratings, but that doesn't mean they aren't quality companies. Do your homework and you will be fine.

BBB is in the business of making money.. you pay then to be accredited. I've noticed that business that pay for the accreditation will suffer less from complains (a lot of them will be closed based on the fact that BBB has deemed that the business did their best to solve the problem - not always the case when you read the complaint and the answer). I would be cautious when I see a lot of complaints and still a very good rating. Sales people will tell you that "when you do the amount of business that their company does, it's inevitable to have a few complaints". Not true. It means it's a big company that cares only about profit. I should know. I briefly worked for such a company. Pay extreme attention to "sales and advertising complaints" - it translates into "I'll lie to your face, but by the time you figure it out, it will be too late"

I'm not sure it is as important as some other factors, but I wouldn't ignore it.

it is important. i would also recommend doing independent searches through google, yelp , angies list etc to get a full picture of the company and person. As well check the NMLS! NMLS consumer access

BBB is a good barometer for such things, but one I put more weight with is the rep on the street from family, friends and associates.

In 2010, the news magazine show 60 Minutes did an expose' on the BBB which revealed time after time a company that had not become a member received a "bad" grade on the BBB website, but after contacting BBB and paying the membership fee they suddenly got all A+ ratings. Wolfgang Puck is the biggest advocate of trying to bring change to BBB's shake down method.....he has never had a good rating because be refuses to join BBB.You should check out any lender through industry related watchdog sites.