A significant increase in mortgage volumes has seen St George segment brokers in order to deliver faster turnaround times for its higher frequency partners, it has been revealed.
The segmentation is part of a range of initiatives implemented by St George in recent months to improve its service to third-party partners as its loan application submissions reach record highs.
Under the new segmentation model high frequency brokers have access to a regional BDM that services approximately 20 cases a day, a St George spokesperson told Mortgage Business.
This compares to the less frequent users who are designated a relationship consultant that handles approximately 65 broker cases per day.
The most frequent St George brokers can expect loans to be processed within five working days while the least frequent users can expect processing times between 15 to 16 days, the spokesperson said.
In order to speed times up the bank has increased its lending team from 110 to 155 since December last year. According to the spokesperson a further 25 will come on board within the approaching weeks.
The bank said it expected servicing times to improve markedly by the beginning of next month as a result of these actions.COMMENT HERE
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