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.