The company is placing feedback front and centre in its bid to serve its broker partners
This article was written in partnership with RFA Mortgage Corporation
Fergal McAlinden, of Canadian Mortgage Professional, sat down with Marina Bournas, president and CEO of RFA Mortgage Corporation, to find out what the company has been doing to create a better, smoother experience for its broker partners
In today’s hectic and fast-paced mortgage market, it’s important for brokers to know their feedback is being heard and used by lenders to improve service and processing times.
That’s a fact that RFA Mortgage Corporation is well aware of, with president and CEO Marina Bournas (pictured above) telling Canadian Mortgage Professional that broker feedback has been “very central” to the company’s approach during the last 12 months.
“Over the past year, we’ve sought out feedback from brokers who do a lot of business with us – but also those who don’t work with us at all,” she said. “We’re doing this to engage the broker market and understand potential limitations impacting our ability to be their lender of choice.”
RFA’s goal is to identify and address pain points around operations, product, rate and service, Bournas said, in order to use that feedback to create an “optimal” experience for brokers – an approach that’s already resulted in some striking changes.
The company has introduced a new three-tiered sales model that targets the needs of different brokerages depending on the level of support they require. RFA’s brand-new Strategic Account Manager (SAM) program is an origination model aimed at providing a highly efficient, personalized and enhanced service experience. SAMs are full-service account managers who operate within their own portfolios to support the ongoing needs of high-volume brokers.
It’s also launched a new status offering for brokers, the RFA Insider program, as well as major funding and operational efficiencies helping contribute to even smoother (and shorter) service and turnaround times for brokers and agents.
“Brokers who have not submitted a deal to us since last fall will see a noticeable improvement in their experience, just based on their feedback and us really digging in to understand our client,” Bournas said.
Another significant development at RFA is its recent funding diversification, with the company having onboarded a new investor at the beginning of this year and a second on the horizon.
That’s allowed the lender to broaden its product offering, improve rate competitiveness and enhance credit policies, according to Bournas, with clear benefits for the mortgage broker community.
“We’re quickly scaling our product offering to meet the ongoing demands of the market, and we’ve identified where there are gaps and where RFA can step in to provide our broker partners with a more comprehensive suite of products for their clients,” she explained.
“At the end of the day, it’s our goal to be a one-stop-shop for mortgage brokers. That’s what our current and long-term strategies are geared towards.”
This is a reflection of what Bournas described as RFA’s “broker-first” mentality, an ethos that means the lender’s top focus is always finding ways to improve the broker experience and working on what matters most to them.
The company’s efforts to be a “solutions-oriented” partner for its brokers means that it realizes the importance of efficiency – as well as first-class service, Bournas said. “It’s a competitive world out there, so we need our broker partners to be able to provide answers to their clients, too,” she added.
That commitment to service is one of the main reasons RFA is currently placing such an emphasis on hiring, growing and training its team. Recruiting best-in-class underwriters and sales representatives dedicated to finding solutions means brokers don’t have to shop around, according to Bournas.
Ultimately, that’s an approach that bodes well for the future, with the lender positioned to continue making a strong name for itself in Canada’s mortgage broker community.
“We’re very excited about the future of RFA and our potential to be a lender of choice in the market,” Bournas said. “We know that title doesn’t come easy, and we’re working hard to earn the trust and business of our mortgage brokers nationally.”
Bournas urged brokers to learn more about RFA, its offerings and value proposition by contacting a member of the company’s sales team or visiting brokersfirst.ca.
“Please give us a try. Your feedback is imperative while we continue to scale, grow and build strong partnerships,” she said.
“We’re always happy to listen and take feedback away. We believe that this will drive a very different experience for our brokers and that’s what really matters to us.”
Marina Bournas is president and CEO of RFA Mortgage Corporation, a mortgage lender in Canada
