Powered by MOMENTUM MEDIA
the adviser logo
Lender

Brokers share their lender experiences in new initiative

by Annie Kane4 minute read

A new knowledge-sharing initiative that asks brokers to share the experiences they have with lenders in order to understand how lenders are faring has been launched by Momentum Intelligence.

Momentum Intelligence, the research arm of the Momentum Group, has launched a new survey series that aggregates the experiences of Australian mortgage and finance brokers each month to quantify how lenders are performing in the third-party channel on an ongoing basis.

The Broker Pulse initiative primarily aims to help keep brokers abreast with the latest changes in performance as experienced by their counterparts. 

On the first day of each month, participating brokers are asked to share their experiences with lenders in a short survey.

Advertisement
Advertisement

Questions include those focused on average turnaround times and consistency of credit assessors, among other things.

In return, participating brokers gain access to this shared knowledge base, which pools the responses of all brokers who have contributed to provide unrivalled peer-to-peer insight of the lenders that have been servicing brokers most effectively in the third-party space, across a range of loan types.

The results of the survey are reported a week after the survey opens.

The survey series has a secondary function of providing insight into how lenders are performing month-on-month and enabling lenders to identify where they can work to improve.

The Broker Pulse complements Momentum Intelligence’s Third-Party Lending Report, which is a broker sentiment survey of their lender experiences over the course of the year.

Speaking of the new initiative, Michael Johnson, Momentum Intelligence’s head of strategy, commented: “The Broker Pulse is a brand-new initiative developed by Momentum Intelligence to create a community-driven knowledge base for brokers to share the experiences they have with lenders.  

“By sharing the findings with participating brokers, they have unrivalled insight into which lenders have the best service levels in the third-party channel, saving them time and energy. 

Mr Johnson outlined that participating brokers had already welcomed the initiative, with several suggesting that it helps them pick the lender that is providing better service/time frames for their clients and see “real outcomes from brokers”. 

Brokers interested in joining the Broker Pulse panel can apply to Momentum Intelligence here.

[Related: ]

ballot box ta

Annie Kane

Annie Kane

AUTHOR

Annie Kane is the editor of The Adviser and Mortgage Business.

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

CEO Sleepout Pepper Money

Mortgage industry raises more than $160k in CEO Sleepout

On 23 June 2022, several CEOs and directors in the mortgage and finance industry spent a night without shelter to...

READ MORE
alex whitlock

New membership program revealed for The Adviser

Members will be able to access exclusive sales and marketing strategy, business intelligence and exclusive market...

READ MORE
Hot property TA

Hot Property: The biggest property headlines from the week 27 June to...

Welcome to The Adviser’s weekly round-up of the headline stories and news that are important not only for the...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more