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Underwriters must stay away from sales to avoid influence

Research from Charterhouse Research last week claimed 72% of brokers thought that lenders did not have a good understanding of their needs and issues.

Brokers also argued that they would like lenders to demonstrate a better understanding around access to key decision makers, flexibility of products, underwriting and dual pricing.

Of course brokers want more access to underwriters and want to influence lending decisions.

I have been at the other end of the phone too many times listening to a broker trying to tell me that the sow’s ear is really a silk purse and refuses to accept otherwise.

The reason underwriters were separated from the sales process was to avoid undue influence from interested parties.

I say that as someone who has worked in a brokerage for 10 months and understands how imperative it is to get cases through.

Grey-haired underwriter

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