"If you're a broker today and you're not quick at responding to your client, someone else will be"
For mortgage industry players, the importance of an ever-evolving suite of technologies that facilitate speedier transactions should not be underestimated.
“It really is all about who’s going to get [the] deal done faster and better and with a better rate,” said Equitable Bank’s Joe Flor.
These tech tools accentuate the strong fundamentals that any reliable mortgage lender should embody, Flor argued.
“It really is our core value at Equitable Bank, and it just doesn’t come from picking up the phone or returning emails within a certain timeframe,” Flor told Canadian Mortgage Professional. “It’s about the technology that we can provide our broker partners to make things more efficient and easier.”
Read more: How can a brokerage ensure service efficiency?
“We’ve got the automated appraisals that we offer, and we have a few other things that we’re working on that are going to make things even more efficient for our broker partners,” Flor added. “It’s all about that smooth transaction because at the end of the day, speed is important [for] our partners.”
All of this lies at the heart of what a broker and lender should strive to become, Flor said.
“I know it’s not as busy for some, but speed is so important because if you’re not a broker today and you’re not quick at responding to your client, someone else will be,” he said. “And you could lose that client.”
For more thoughts on the future of lending, click here.
