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Poor service is hitting brokers’ wallets, says GMAC-RFC

Research from GMAC-RFC reveals that poor service and uncertain Decisions in Principles are hitting brokers where it hurts, in their wallet.

Research from GMAC-RFC shows that two hours of wasted administration time on just ten cases per month could cost a broker 14,000 a year assuming a brokers time is worth 60 per hour.

There have been many reports of lenders suffering on service which is not good for them, their clients or the industry. GMAC-RFCs award winning POSD system provides excellent service for its customers. POSD saves both time and money as it gives a truly binding decision. Brokers dont have to spend time paper chasing and it cuts down the need for telephone calls.

With GMAC-RFCs online system approximately 10% more cases complete, increasing brokers earnings and brokers are using the freed up time to generate new business.

Jeff Knight, head of marketing services at GMAC-RFC says: In the competitive mortgage market, time really is money. Intermediaries cannot afford to ignore this and therefore lenders need to provide an excellent service and genuinely useful ways of making brokers working lives easier.

Technology helps and we know that there is a tangible benefit for intermediaries who use our POSD system as it saves them time and money. Weve seen a massive increase of intermediaries using POSD and it gives them an advantage over their competitors.


Virtual payback

A 23 year old gamer has recouped the 13,700 he spent on building a virtual island by selling land for homes and taxing other gamers to hunt and mine on the island. Known as Deathifier, he says: “The money we have made to date is only a taster of what can be achieved with my […]

Burns-Anderson picks The Exchange portal service

Burns-Anderson has chosen portal services supplier The Exchange to manage its new multi-tie proposition.Burns-Anderson is launching its multi-tie operation from Exweb, which offers quotation and electronic business submission services, already embedded in the business process of the majority of IFAs. The multi-tie will be available to Burns-Andersons appointed representatives as well as directly authorised IFAs. […]

We had a great BDM before B&W left us in the lurch

From Ian Curtis BDMs alive and well at B&W? I think not. I read with interest Deirdre McManus’s letter (Mortgage Strategy, November 7), reassuring Monty Burn that B&W has BDMs. We have been packaging for B&W for nearly eight years and until May had an excellent relationship with our BDM. Then he was transferred, his […]

Rooftop Mortgages launches stepped light range

Rooftop Mortgages has launched a suite of stepped light products in response to demand from its packager partners. The suite includes four products. The stepped light plus 90 with one mortgage arrears allowed in the last 12 months with none in the last three months or maximum four CCJs allowed totalling no more than 1,000 […]

piggy, cash, money

A tailored approach to protection

By Ian Smart, Product Architect, Royal London In an ideal world, clients would be able to afford as much protection cover as they wanted, but few would describe current times as anything approaching ideal. But this doesn’t mean that they have to indulge in an either/or decision that results in missing out on some essential […]


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