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Banks should stop pointing finger: Flavell

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Australian Broker | 08 Apr 2011, 06:00 AM Agree 0
Lenders need to stop pointing the finger at brokers when it comes to coversions, a major bank has said
  • Steve Sampson | 08 Apr 2011, 11:06 AM Agree 0
    Well said John, you've hit the nail right on the head. I always find it interesting when Lenders chastise broker numbers and preach to them on submission quality but when you ring a BDM for advice they don't answer the phone. So of course it's the brokers fault! Steve Sampson
  • Lynne | 08 Apr 2011, 11:11 AM Agree 0
    Hear! Hear!
  • Jennifer Schelbert | 08 Apr 2011, 11:16 AM Agree 0
    At long last a lender is saying the right thing!
    It is sole wrenching when a assessment officer talks down at you, which unfortunatley many do!!
  • Peter | 08 Apr 2011, 11:18 AM Agree 0
    It's ironic that this comes from HomeSide who does use conversion metrics in their star rating. Despite this, I think HomeSide works hard on broker relationships.
    The biggest problem for quality often appears to be missing forms. Most lenders still require brokers to go to 3-4 different documents to submit an application, especially the NCCP disclosure. Wouldn't it be easier for everyone if it was all integrated into a single document?
    It would also be helpful if lenders actually read comments (would solve at least 50% of my 'more info' requests) and received supporting documents properly. Most of my 'missing document' requests were sent in the initial transmission, but for some stupid reason it goes missing.
  • Shakun Reddy | 08 Apr 2011, 12:24 PM Agree 0
    Well said, I wish all lenders think like John Flavell.
  • rosiej | 08 Apr 2011, 07:40 PM Agree 0
    It is encouraging to see a lender recognise that they also have a part to play in the quality debate. I hope other lenders take note, particularly one of the Big 4 who is constantly and publicly berating brokers about the quality of their applications, yet their own back of house leaves a lot to be desired.
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