Broker perception geographic scorecards: Different states lead in lender advocacy and overall broker satisfaction

A total of 232 brokers participated in the Broker Pulse Survey conducted between 1-10 October 2021. According to the results, majors continued to dominate broker flows in September, with ANZ and CBA merely switching places in the top 2, and NAB ranking 5th.

Broker Pulse draws on peer-to-peer knowledge sharing to provide up-to-date analyses of lender performance in the third-party channel. Beginning September, this dynamic knowledge base now captures scenario-based processing speeds to help brokers make decisions that are tailor-fit for their clients.

As all four majors sustain recent improvements in processing speeds, average turnarounds for large non-ADIs and small ADIs take a dip in August 2021.

On its 2nd anniversary, Broker Pulse shines a light on the lenders supporting the industry-wide initiative for transparency and communication between brokers and lenders.

We’ve learnt a lot this year, and to mark our 2nd anniversary, we are revamping our industry-wide initiative to increase transparency in the third-party lending channel. 

Brokers are experiencing a continued decrease in time to initial credit decisions, with large lenders showing the most improvements.

Lenders mark the beginning of the third quarter with steady improvements in turnarounds and personnel performance.

Close to 1 in 2 brokers lodged applications to the Commonwealth Bank of Australia (47 per cent) in July 2021, up 7 per cent from June 2021, making it the most used lender in the last month according to the Broker Pulse survey.

Turnarounds have improved for the fourth month in a row, with time to initial credit decision at its fastest level in over a year, according to the latest Broker Pulse.

Long delays in broker-lodged loans have been an ongoing issue for the past year – but are things starting to look up? Annie Kane and Michael Johnson explore more.