Why trust matters in the broker-lender relationship

This article was provided by Home Trust

With an uncertain economic environment and an increasingly competitive mortgage landscape, it's more important than ever for brokers to deliver exceptional service to borrowers. One way for brokers to do this is by establishing a robust and reliable relationship with their lender partners.

For Elizabeth Cescon (pictured), vice president for underwriting at alternative lender Home Trust, trust is the foundation of a solid broker-lender relationship. As the leader of Home Trust's underwriting team, Cescon underscores how important it is for underwriters to foster trust to help brokers thrive in today's market.

The pivotal role of underwriting

Cescon believes that trust between a lender and broker is important because it opens the door to effective communication and ensures that problems are solved efficiently.

“Trust in the broker-lender relationship enables transparency across communication lines,” said Cescon. “This leads to everyone having a better understanding of our requirements and our lending decisions.”

And since the underwriting process is vital in aligning the goals of brokers and their clients with a lender's risk guidelines, Cescon believes that underwriters are well-positioned to play a role in building and maintaining trust between brokers and lenders.

"Underwriters are responsible for thoroughly assessing risk while offering products that align with the borrower's needs," said Cescon. "This involves balancing the lender’s guidelines and risk appetite with the broker’s goal of providing the borrower with the best outcome.”

For Cescon, building trust comes from being consistent, transparent and professional across the underwriting process.

"Demonstrating expertise and being solution-oriented also helps brokers feel supported, even in challenging cases," said Cescon. "When underwriters are proactive and responsive, brokers gain confidence that their applications are handled with care and diligence."

The Home Trust advantage

Cescon said that she does not need to look any further than her own team at Home Trust to find a model for underwriting excellence, adding that brokers can trust Home Trust to go beyond the initial review of the mortgage application and actively collaborate with them to gain a fuller understanding of a borrower's situation

"Home Trust's approach to underwriting is centered on proactive problem-solving," said Cescon. "Our underwriting philosophy goes beyond simply assessing risk. It's about understanding each borrower's unique situation and providing options to brokers to arrive at approvals that align with the borrowers' needs and our lending criteria."

“We understand that no two clients are the same,” she added. “We work tirelessly to improve our responsiveness to brokers while also trying to find appropriate solutions for their clients. This means ensuring our team uses their wealth of knowledge to understand the client’s needs, digging in and asking the right questions, and helping the broker find a solution that fits their client’s need.”

Faster turnaround times

As another example of her team's commitment to fostering trust and helping brokers improve service delivery, Cescon said that her team has made substantial progress in turnaround times.

"Turnaround time is critical in the mortgage industry," said Cescon. "Brokers rely on fast and efficient processing to satisfy their clients and maintain their competitive edge. A quick turnaround builds brokers' trust in a lender's ability to deliver on promises and enhances the overall client experience."

"Home Trust has made significant strides in improving turnaround time – we're keenly focused on building a better broker experience and are extremely proud of our improvements," she added.

Cescon credits the improvement to the tight teamwork between Home Trust’s sales and underwriting teams.

"Teamwork between sales and underwriting is essential for providing brokers with efficient, reliable service," said Cescon. "When sales and underwriting work together, loan applications are processed smoothly and with minimal delays. This partnership also allows for quicker problem-solving and more efficient handling of complex cases."

According to Cescon, brokers can also streamline the application process by being prepared to explain the specifics of each unique borrower situation.

“Providing detailed explanations for unique borrower situations helps underwriters make informed decisions more efficiently,” said Cescon. "Brokers can do this by ensuring they know their client and are prepared to share and explain their story.”

Solutions you can trust

Ultimately, a strong broker-lender relationship is rooted in trust – and Home Trust's dedication to reasonability, availability and reliability positions it as a trusted lender for brokers who need reliable alternative solutions for their clients. In fact, a recent survey of mortgage brokers by Bond Brand Loyalty lauded the lender's reputation for keeping promises and commitments.

"We take pride in our proactive approach and in being a lender that brokers can trust to deliver the best solutions," said Cescon.

Home Trust is here to help brokers who want to work with a trusted underwriting team committed to offering the best alternative mortgage solutions around their unique situations. Whether the deal profile is near prime or something more complex, the alternative lending pioneer is here to offer your clients the competitive solutions they need. Learn more by visiting www.hometrust.ca/SolutionsYouCanTrust.