MAB: Path to quality should be a partnership
Speaking at the Council of Mortgage Lenders’ sales and distribution conference, Brodnicki said lenders must appreciate that reacting to management information can be costly and time consuming.
He said: “The provision of data to create quality metrics is a positive thing and the broker community agrees with what is being asked of them but we need time to react. Don’t penalise us straight away.”
Since Santander set the ball rolling with quality-linked proc fees brokers have been vocal in requesting metrics which they are able to influence and which are clear in their objectives.
Brodnicki said intermediaries are more focussed than ever on meeting these measures and asked for a partnership approach with lenders and intermediary firms – rather than a them and us relationship.
Brodnicki said he would like to see lenders share the upside of the evolution of the intermediary market as well as passing on the negative effects.
He said: “The financial impacts of quality measures are only negative – at best a broker can aim to stay where he is and at worst they lose money. Quality should not just be a stick to beat brokers.”
And he added: “Let us share in some of the savings you have made in processing costs which have undoubtedly fallen over the last 10 years due to advancements in technology.”