Enhancements support brokers, lender says
Resimac has shortened loan application turnaround times in an ongoing effort to help brokers better service their clients.
Providing that applications are submitted in line with checklist requirements, the non-bank lender said it was able to provide a decision in less than two days.
In response to broker feedback, Resimac said it had improved its loan originations system. Other changes include a tailored credit policy in line with client needs, improvements to training for onboarding brokers and training for staff on products, policies, and processes.
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Resimac general manager distribution Chris Paterson (pictured above) said while competitive rates and products were important, consistent and efficient credit decision-making was equally so.
“True to our vision of being a customer-obsessed company, we recognise the need to support brokers with process efficiencies, and we’ve identified ways to improve our turnaround times. It’s a constant work in progress,” Paterson said.
As brokers required reliable service, Paterson said Resimac strove to consistently “provide SLAs of up to two days maximum”.
Recent research commissioned by Resimac among brokers and mortgage borrowers showed that 40% valued faster approval times, citing them as a key reason to switch to a non-bank lender.
Paterson suggested brokers take advantage of Resimac’s two-day turnaround time, reminding them of its most recent prime alt-doc bundle offer.
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Available until October 31, the offer enables eligible residential investor clients to receive owner-occupier pricing on investment home loans. The offer applies to clients purchasing or refinancing when they bundle their investment loan with their owner-occupier loan.
Paterson said Resimac products catered for a range of owner-occupier and investor needs, and that the rates were competitive.
“Our experienced BDM team continues to earn praise from brokers and is ready to workshop applications and scenarios,” Paterson said.
Paterson confirmed the two-day turnaround time applies to fully packaged applications, which are applications submitted in line with the mandatory requirements on Resimac’s supporting document checklist.
Brokers could support the process by providing mandatory supporting documents in line with the checklist requirements, Paterson said.
