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MFAA welcomes DDO changes
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Association working to fix reference checking laws
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Non-majors in the spotlight
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Brokerage head calls out ‘unacceptable’ turnaround delays
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It is “unacceptable” that turnaround times in branches can be measured in hours yet brokers are “waiting weeks”, according to the managing director of a mortgage broking franchise.
The managing director of MoneyQuest has called out the ongoing “imbalance” in turnaround times between different channels, after nearly half of the franchise brokerage’s members outlined that service levels were the worst they have ever been.
The brokerage brand, which currently has just over 100 offices across Australia, recently undertook its annual Franchise Owner Sentiment Survey, which explored several areas of interest, including lender service levels and career satisfaction.
Broker settlements hit new high for March quarter
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The value of settled loans written by brokers over the March quarter hit a new record, with broker market share for the quarter rising to 57.5 per cent.
According to the latest data released by research group comparator (a CoreLogic business) and commissioned by the Mortgage & Finance Association of Australia (MFAA), in the three months to March 2021, the value of new settlements increased 27 per cent year-on-year to reach a new record for the period.
A whopping $62.2 billion of residential mortgages were settled by brokers in the first quarter of the calendar year, a significant increase on March 2020 figures, when the value of settlements rose 37.5 per cent to $49 billion.