CMP’s Brokers on Lenders survey
has been extended until Friday, August 15 to allow any tardy brokers to have their say and join the chorus of their peers who have already weighed in on the issues facing their lending partners.
One of the questions asked is “What do you think will be the most important issue that will affect the broker/lender relationship in the next 6-12 months?” and many brokers believe it will be the move to efficiency ratios. However, one player cites a concern that underwriting will tighten.
“Lenders might become fussier about documentation and underwriters seem more concerned about protecting themselves by being difficult by asking for more documents and sometimes unnecessary questioning and not really understanding the deal,” one poll taker wrote.
Click here to have your say
Overall, the Brokers on Lenders survey is viewed as barometer of broker satisfaction with their most important partners. The CMP research is also the most straightforward and influential message mortgage brokers will send to their lenders, say industry professionals.
That’s all the more so with increasing competition from the banks and a number of credit unions across the country. The survey and comments aim to offer valuable advice on how lenders can better position the industry.