From January 9, a daily email will be sent to brokers informing them of the state of play of all their outstanding cases with Accord.In addition, any individual changes will also be emailed, so brokers are always up- to-date with applications. Accord was one of the first to pioneer an online service announcement for brokers to gauge how quickly applications could be processed. Last week it also revealed the launch of its Adverse Business Cascade system. This gives brokers an immediate automated response as to whether their clients suit their product criteria, moving them up to a prime rate or down to a sub-prime rate, depending on the customer’s credit history. Linda Will, managing director of Accord Mortgages, says: “The rationale is twofold – brokers always want to know what’s going on and a lack of proactive information is what they hate most. “At the same time, a mass of phone calls coming in to us asking at what stage individual cases are stops us from processing cases. So the email alert is a win-win for both sides.” Sole broker Roy New says feedback is the worst aspect of all lenders’ service delivery, and he would welcome any innovation in this area. He says: “If you go online with lenders, you can hit various buttons to see if cases are up-to-date, but that doesn’t tell you what still needs to be done. “If they say they’ve collated x and have still to do y, that’s excellent. I hope other lenders follow suit.”
Accord Mortgages will launch an application tracking system to deal proactively with brokers\' services queries in the second week of 2006.