First National and TFC Homeloans launched the initiative in June and they have reported that brokers are demonstrating dramatically faster turnaround times and better service as a result of the appointment of an on-site underwriter with the authority and expertise to review processes while they can also provide verbal AIPs.
Judith White, national sales manager at GE Home Lending, said: “Branded lending relationships aren’t just about tailoring products – tailoring service is also crucial.
“We work closely with the team at TFC Homeloans to provide exclusive deals that are designed to suit customers’ needs and, more importantly, to do so with the fastest and most efficient service possible.
“To add to our existing success we are now setting up training sessions for TFC Homeloans staff to learn more about First National and how best to exploit the branded lending initiative. We identified branded lending as a key distribution channel at the start of the year. This kind of success reinforces our commitment.”
Simon Snape, head of products at TFC Homeloans, said: “Both TFC Homeloans and First National are committed to branded lending as a business model and the immediate success of this relationship shows why.
“The broker feedback we have had has been extremely positive. Service, flexibility and price are fundamental for brokers and our collaboration gives us an edge on all three.”
John Rice, managing director of the Regulatory Alliance of Mortgage Packagers (RAMP), said: “At RAMP we have always believed branded lending is the business model that demonstrates what can be achieved when lenders and mortgage arrangers like TFC work closely together. The success of the TFC and First National relationship comes as no surprise.”
