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RAMS Home Loans has regained some control over its servicing levels and predicts turnaround time frames to return to normal by the end of June.
In an update released to the market last week RAMS said it expected servicing level agreements to be under 10 days by the end of this week.
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Melos Sulicich, RAMS CEO, told Mortgage Business the lender was currently assessing full applications receipted May 8.
“Improvements to RAMS processing times has been delivered by recruiting additional staff, weekend work and changes to processes such as, ordering valuation at pre-vetting stage and giving priority to full applications over pre-applications until standard SLAs are achieved,” he said.
Brokers have faced a blowout in servicing levels across the board for several months now as a result of the first home buyer surge and a reduction to the number of lenders operating in the market.
Mr Sulicich said he appreciated the frustration brokers were feeling in the current market but said there were a number of ways brokers could help the process along.
“Ensure applications are only submitted once fully packaged to minimise reworks, ensure the checklist is completed for all applications [and] include the serviceability assessment with applications,” he said.
“We understand the frustration of awaiting a decision, however I can assure you we are doing all that we can to get back to acceptable service levels as soon as possible.”
