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Brokers need to focus on quality: CBA

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Australian Broker | 17 Mar 2011, 03:00 AM Agree 0
The CBA's Kathy Cummings has told brokers they need to focus on the quality of their deals in order to protect their place as a channel of distribution
  • Ozboy | 17 Mar 2011, 09:29 AM Agree 0
    Love it: told brokers they need to focus on the quality of their deals in order to protect their place as a channel of distribution.
  • morbanx | 17 Mar 2011, 10:57 AM Agree 0
    Firstly I agree totally with the comments from Ozboy & countrybroker.

    Shouldn't the CBA be taking responsibility to ensure that brokers that are consistently putting up sub-standard submissions be contacted by their BDM and given training to rectify the problem? Surely a broker that provides quality submissions but does not meet the CBA's volume requirements is a better partner than a broker that meets the volume requirements but their submissions are sub-standard!
  • JBJB | 17 Mar 2011, 11:24 AM Agree 0
    Brokers deal with the public. The public is an imperfect beast therefore deals will always have some hairy bits attached and that is the business we are in and always has been. WE are the client and CBA is the supplier. WE provide access to the consumer and WE cannot afford to display this attitude to our customer base or we would soon be out of business.
  • Ozboy | 17 Mar 2011, 12:31 PM Agree 0
    JBJB well put but remember the lenders are all perfect and their quality is second to none....ok tongue in cheek.
  • KB of Adelaide | 17 Mar 2011, 01:46 PM Agree 0
    Two years ago at a convention CBA was lamenting the poor quality of deals sent to the bank. As an example it was mentioned that many brokers sent in deals that didn't qualify on their assessment calculators and then expected the assessors to fix it somehow.
    Having never done this I was somewhat surprised and asked why they simply didn't cut brokers who forwarded that sort of nonsense, instead of cutting others based on quotas. The reply was fairly woolly but in essance said that it was the numbers that mattered. So, if they're not going to admonish those brokers with poor quality loan writing records then guess what they're going to get a lot of?
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