How this broker found the right mentor
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The KW Lending Solutions director underscored the importance of mentorship for brokers, and highlighted the challenges of choosing the most suitable mentor.
Having entered the broking industry around three years ago, Victorian-based broker and KW Lending Solutions director Karen Wright said that the most significant challenge she faced was that she did not have any mortgage broking knowledge or background, nor any experience in operating her own business.
Speaking to The Adviser’s Elite Broker podcast, Ms Wright said: “It’s just one of those things that you’ve got to make mistakes to actually learn the lessons.
NAB turnarounds range from 1-20 days, says CEO
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Ross McEwan has confirmed that turnarounds differ depending on complexity and channel, with the direct channel able to approve “simple” loans in less than a day, while broker channel is taking around 12 days.
Speaking at the economics standing committee hearing for the Review of the Four Major Banks and other Financial Institutions on Friday (16 April), NAB CEO Ross McEwan was questioned about the bank’s turnaround times for mortgages.
Building on questions asked of both CBA CEO Matt Comyn and Westpac CEO Peter King the day prior, committee chair Tim Wilson MP asked: “What’s the current time frame for ‘time to yes’ for an application for a mortgage product?”
The CEO of the big four bank has acknowledged that “time to yes” between direct and broker channels is markedly different, which he suggested was partly due to high volumes.
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