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Non-bank lender FirstMac says it is fighting back against “unacceptable” servicing levels and has promised brokers it will deliver premium turnaround times compared to the banks’.
Kim Cannon, FirstMac CEO, said the reality experienced by brokers trying to provide mortgages for potential home buyers had been one of frustration.
“Brokers and buyers alike are taking a beating from the banks who are taking up to three weeks to look at a loan,” he said.
“FirstMac has made a commitment to ease brokers’ suffering due to the credit hold-up handcuffs the banks have the industry in,” he said.
Mr Cannon said brokers who submit a fully completed loan application with FirstMac will receive preliminary approval within 24 hours during the business week and loan documentation within 24 hours of unconditional approval.
“Experienced, local service people ready to process deals and take calls underpin FirstMac’s commitment to brokers and their clients,” he said.
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