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Brokers need to get it right the first time: Cummings

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Australian Broker | 24 Jun 2013, 06:00 AM Agree 0
CBA's Kathy Cummings says brokers must work on their productivity if they want to improve their clients' experience
  • Patrick McMenamin | 24 Jun 2013, 10:12 AM Agree 0
    What a cheek! If bank productivity and service even approached reasonable I would save an enormous opportunity cost. Cathy, you and your collegues need to do a lot of work in your own backyards before you qualify to judge our productivity.
  • BONED | 24 Jun 2013, 10:14 AM Agree 0
    Gee KC's timing is not always her best asset is it? Has she had a good look at her Business in the last 3 months? If they were paying bonuses to us based on their errors, someone would have been sacked!
  • Perth Broker | 24 Jun 2013, 10:19 AM Agree 0
    I do wish that, in lieu of continually lecturing brokers on how to do things right, she would turn her attention inwards and start looking at the double handling her marvels at the CBA are actually creating brokers.
  • John Taylor | 24 Jun 2013, 10:22 AM Agree 0
    I agree with Kathy Cummings in that Brokers should get things right the first time around, not only to give the client a great experience but to enhance the Broker position in the marketplace. I would, however, add that the Lenders need to provide an equally satisfying and professional service which often seems to be ignored when things go wrong during the application process. A number of Lenders have processing staff who are inexperienced and who seemingly cant deal with relatively simple deals which leads to slow and poor service back to the Broker. It's a case of ALL parties working to a higher standard to ensure the Customer is managed professionally at ALL times.
  • QAL | 24 Jun 2013, 10:37 AM Agree 0
    I have no problem with ongoing training and improving our services, but please, please, please can the lenders (mostly the larger ones) work with their systems as well. Frequently we (the brokers) have to explain salary scarifce to assessors, re-explain the requirements and re-submit "lost" support docs. The old "broker bashing" story is getting a little long in the tooth. Put a new record on Kathy.
  • PeterT | 24 Jun 2013, 11:12 AM Agree 0
    In the last few weeks from CBA, 50% of my deals are running late, despite no outstanding issues. In several cases, we've had documents requested that have already been provided, which they acknowledged as received when we followed up (although still no action on these items).
    This week the number of signatures requried by CBA has increased, they're already one of the most documentation intensive lenders out there.
    I agree that we all need more efficiency, but it would be nice if Cathy would at least try to meet us half way and work to make our jobs easier instead of harder.
  • overtheborderbroker | 24 Jun 2013, 11:56 AM Agree 0
    Hi Kathy. I'm bored. CBA service over the past three months has been abysmal, I've had to escalate nearly every file, and your certifications are taking a week. Stop telling us what to do and look after your own back yard. I'd love to see you out here without a regular salary safety net.
  • Peter Delimahalis | 24 Jun 2013, 12:18 PM Agree 0
    Kathy, you may be better served by utilising your time to better manage and improve the efficiency of your business before you start giving advice on what brokers should be doing.
  • shekher aryaa | 24 Jun 2013, 01:55 PM Agree 0
    Productivity!!! Kathy should get her house in order before making statements about the P word. All of my last three deals with CBA have had major issues that could be prevented if her staff was paying more attention. One of them was given a formal approval but then I received a conditional approval after 10 days ... how do explain that!!
  • NP | 24 Jun 2013, 02:55 PM Agree 0
    Hey, pay me a safe fat salary & I'd bang on for years on end about broker productivity no problem at all. So don't criticize Kathy, she's only doing what she is paid to do.
  • Broker | 24 Jun 2013, 10:37 PM Agree 0
    Oh please, this coming from CBA , the bank that take 4 days to look or relook at ANYTHING.

    Memo to CBA , lodge a deal to ANZ with free upfront vallation, unconditional approval 2 days later.

    Pick up docs at branch , return and certified next day...Wake up CBA and get your own house in order before bagging brokers
  • Broker | 24 Jun 2013, 10:41 PM Agree 0
    And hasn't closing the mortgage process centre in Melbourne improved "productivity" for all parties concerned.....

    Sweat shop mentality !
  • Coast Broker | 25 Jun 2013, 09:10 AM Agree 0
    Kathy should look in her own backyard first. Clients of mine after Formal Approval was given were able to negotiate a $1000 off purchase price of property being purchased due to issues highlighted in Building Report. This require a small change to loan amount. Just received new loan documents and they have sent all documents again instead of just amended Loan Agreements.
  • ozboy | 25 Jun 2013, 09:54 AM Agree 0
    Please could someone offer Ms Cummings another job. She is obviously bored (same message now for the last 4-5 years).

    May I suggest to all brokers either refrain from using CBA (we did 6 years ago and have not missed them one bit and haven't lost a client because of it) or follow Ms Cummings on twitter and tweet her everytime one of your files doesn't go as planned. CBA, along with most lenders, are taking social networking very seriously . This will get your message out and will give you a good idea of where Ms Cummings and CBA fit by her (if she runs her account?!) reply's. Get those thumbs a pumping.
  • ozboy | 25 Jun 2013, 01:19 PM Agree 0
    Bit hard to be productive when I can't get paid on time, Ms Cummings!!!! I can't get on with the job as I now have to phone my CBA bank manager and advise that my OD will be overdrawn because CBA has kept my money, then I need to phone my creditors and explain that I am not able to pay on time as I haven't been paid by the CBA. Lost a day.

    Ok a little tongue in cheek but if you can't even to the basic's I don't think you have a right to start telling anyone else what to do.

    Look forward to your response about your inability to pay on time.

    Just couldn't help myself had to come back again!
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