Brokers sunnier on lenders, but many still dissatisfied

by Adam Smith25 Nov 2011

Brokers are viewing lenders in a more favourable light, new research has indicated.

Genworth's annual Home Grown report has shown that brokers' perception of lenders is beginning to improve following the GFC. The company's CEO, Ellie Comerford, said brokers are seeing better service and channel commitment from lenders.

"Almost half of brokers agreed the quality of service they received from lenders was good - a 10 percentage point uplift on last year's findings - while 39% agreed lenders were committed to the broking channel, representing a seven percentage point improvement," Comerford said.

In spite of the uplift in broker perceptions, nearly a quarter of mortgage brokers still indicated they did not believe lenders provided good service, and a quarter said they did not think lenders were committed to the broker channel. The survey also found brokers were most dissatisfied with loan processing, with 86% if them tipping it as the key area in need of improvement.