BROKERS ON LENDERS: LENDERS RESPOND Last month’s Brokers on Lenders survey revealed what Canadian brokers really think about the lenders they work with. This month, CMP gives lenders a chance to respond to the results
CMP ’S ANNUAL Brokers on Lenders survey has been a staple of this magazine’s coverage for the past 13 years and is one of our most popular features. This year, we decided to open up the discussion and invited four lenders to address the feedback brokers provided in this year’s survey. Brokers were asked to rate up to six of their lender partners a scale of 1 (very poor) to 5 (very good) in 10 key categories, including
turnaround time, interest rates, product range and more. The findings were revelatory – brokers largely praised commission structures and the support they receive from BDMs and underwriters, but had some serious concerns about lenders’ turnaround times and tech offerings. Still, several lenders received high marks in a number of categories. Read on to find out how those lenders addressed brokers’ most pressing feedback.
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