Broker News

Brokers contribute to lender’s record-breaking month

ME is celebrating two major milestones in November, which were aided by the broker channel.

Last month, the lender achieved one billion dollars’ worth of home loan applications and $640 million in settlements – a new record.

The monthly results coincided with ME’s broker arm turning five.

“The broker channel already provides over half of ME’s home loan sales,” says ME’s general manager of broker sales, Lino Pelaccia, who attributes the results in part to the assistance of brokers.

The broker channel is critical to ME’s growth plans, as Pelaccia outlines.

“We’ve recently introduced desk-based relationship managers available 9-5 for new-to-bank brokers, beefed up our BDM support team to quicken response times, and established a credit quality team to review the paperwork as soon as we have it.”

In addition, Pelaccia notes the lender has refreshed its home loan pricing structure based on LVR and loan-size, and is set to launch a new online broker portal in 2017.

“The portal will let broker’s access clients’ home loan accounts so they have more control and information about clients, both pre-and post-settlement,” he concludes.

 

Published on: Wednesday, December 14, 2016

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