Majority now prefer phone contact with lenders, while sourcing system usage declines
Telephone access to underwriters has become increasingly important for mortgage administrators, according to a recent survey commissioned by specialist lender Pepper Money.
The survey revealed that 22% of mortgage administrators now consider access to an underwriter essential for overcoming application challenges, up from 18% last year.
Notably, 60% of administrators prefer contacting lenders by telephone, compared to 55% in the previous year. In contrast, the use of sourcing systems has slightly decreased. Only 33% of respondents reported using these systems, down from 36% a year ago.
Paul Adams (pictured), sales director at Pepper Money, noted the vital role mortgage administrators play throughout the process.
“Brokers may provide the ultimate advice, but it’s often the case that the experience a customer receives is driven by the work of mortgage administrators right from the beginning of the process at the start of a fact find, through to researching the most appropriate options, submitting the application, progressing it to offer and seeing it through to completion when the funds are released,” Adams said.
“The latest mortgage administrator survey shows the increasing importance of being able to speak directly to an underwriter on the phone to ensure the smooth processing of an application. This probably reflects the growing complexity of customer circumstances for which a simple conversation with an underwriter can be the quickest and easiest way to get the case across the line.”
Adams said that Pepper Money has prioritised direct communication between brokers and underwriters to streamline the process and enhance service levels. According to him, this approach ensures clarity from the outset and contributes to the lender’s high service ratings, as reflected in the recent Smart Money People survey.
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