She says CBA has recently completed a review of its credit processes and have recommendations on that issue for the third party piece.
“We do listen and things like we’re just piloting a new AVM (Automatic Valuation Method ) process for valuations is one of the things where we’re looking at to cut-out rework and give brokers a more efficient and effective answer to their queries.”
However, Cunnings says it’s not just up to banks when it comes to improving the efficiency of the home loan application process – brokers need to do their part as well.
“I think all brokers…should have a very clear business plan. Importantly, and you’d be amazed at what we’ve seen, they need to have a clean workspace for themselves and for their staff. Things like doing a 5-S workshop that we do in the Kaizen Lean program, means that we’ll focus on getting their workspace nice and clean for them so they can actually find their files and they can actually see their monitor.”
To view the full interview with Kathy Cummings, click here