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Clawback research reveals reassuring results

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Australian Broker | 10 Apr 2012, 06:00 AM Agree 0
Research has shown banks are by and large "doing the right thing" on clawbacks when broker clients re-negotiate or top up through branches
  • ozboy | 10 Apr 2012, 10:16 AM Agree 0
    This is encouraging but why can't the lender notify the broker when they get a discharge notice either internal or external.
  • Country Broker | 10 Apr 2012, 11:35 AM Agree 0
    this is encouraging and theNAB are leading the way in keeping the brokers in the loop when an incraese is requested , the CBa have got better but need to improve , the Anz ARE POR IN THAT WE NEVER GET TOLD A THING , AND IF A CLEINT GOES TO A BRANCH AND WANT AN INCRAESE OF MORE THAN $50k THE BRANCH HOME LOAN LENDER KEEPS THE DEAL AS THEIRS AND WE GET CLAWED BACK .
  • BrokerIQ | 10 Apr 2012, 11:55 AM Agree 0
    Ozboy - why should lenders be advising the broker the customer has discharged? Is not in the broker's interest to have mechanisms in place ensuring the customer always get's their broker involved everytime they undertake a major transaction? If they don't then there's a serious gap between broker-customer relationship. Just saying.
  • BrokerIQ | 10 Apr 2012, 11:58 AM Agree 0
    Ozboy - we shouldn't be relying on lenders for this information. Is it not in our interest to have mechanisms in place ensuring the customer engages their broker each time they undertake a major transaction? If they bypass the broker then it's suggesting a serious gap between broker-customer relationship. This is why we get paid trail - ongoing customer maintenance.
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