BDM ratings at record-high

According to the latest Broker Pulse survey conducted last 1-10 October 2021, BDMs received a record-smashing average score of 56 points for the month of September, an all-time high since the inception of Broker Pulse.

This month’s findings are a synthesis of responses from a total of 232 brokers across Australia, lodging an average of 5.1 applications in September 2021.

BDMs introduce brokers to products and services and support them throughout the entire loan process. In previous Broker Pulse results, brokers have emphasized the need for “a good BDM to assist with efficiencies in the assessment process”. This month, brokers gave BDMs the highest average score since September 2019.

Large ADI

Macquarie received the highest BDM rating among all large ADIs, a feat consistently achieved by the non-major for consecutive months. At 88%, Bankwest ranks 2nd and is 4 percentage points behind Macquarie.

Meanwhile, at 3rd place, ING showed a steep jump in BDM score, from 62 points in August to 73 in September. This is also the lender’s highest in the last 12 months.

The most improved, however, was AMP, which registered a 15-point leap from August to September. One of the respondents lauded AMP for being proactive and having “helpful and knowledgeable BDMs”.

BDMs from major banks reportedly showed steady improvements as well. CBA received a rating of 76% and a corresponding score of 51 points this month, up by 9 notches since August.

ANZ also reportedly keeps its BDM performance improving since April, and NAB, since May.

Additionally, while Westpac has struggled with negative BDM scores between April and June, it has consistently boosted its performance in the last 3 months.

Small ADI

Newcastle Permanent closes the third quarter with a strong recovery. From scoring 50 points in July and 60 in August, the small ADI tops this month’s survey with an impressive BDM score of 100 points.

At 2nd place, Teachers Mutual Bank trails behind Newcastle after a 55-point jump in BDM scores, which now sits at 80 points.

MyState and Great Southern Bank’s BDMs also showed great performance, as both small ADIs jumped at least 30 notches to make it to 3rd and 4th place, respectively.

Completing the top 5 is Citibank, which, in contrast with the other 4, registered an 8-point dip in its BDM score.

Large Non-ADIs

AFG Home Loans leads this month’s BDM performance ranking for large non-ADIs after receiving a rating of 100%.

At 2nd place, Advantedge’s BDMs also received overall positive feedback, with a rating of  91%. Additionally, the lender’s BDM scores have remained stable in the past 6 months.

Following closely is Pepper Money at 90%. This large non-ADI is also steadily improving after its BDM rating took a dip in June.

Connective Home Loans secured the 4th spot at 86% with BDM scores jumping from 50 in August to the current 64.

Bluestone Mortgages completes the top 5 after jumping 15 points since August, landing a BDM score of 78 and a rating of 83%.

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