Paul Adams, sales director, Pepper Money
Service levels and a cohesive relationship between lender and broker have become increasingly important.
Strong relationships have always been paramount at Pepper but, given the impact of the Covid-19 pandemic and the turbulence post the infamous Mini-Budget, providing efficient, transparent service to customers is vital.
Pivotal to providing a smooth customer journey is the mortgage administrator, which we have championed and will continue to champion in our industry. As the sales director, it’s important that I take a holistic view of the sales and operational process to get the best outcomes for brokers and customers.
Read the trade press, attend webinars, go to events — make sure you’re always learning
Recently, our director of intermediary relationships, Rob Barnard, took part in a fascinating video interview with Megan Betts, case manager at Coreco, and Nicole Franklin, operations team leader at Dynamo, both of whom have a wealth of experience in mortgage administration. If you scour the web, you may be able to find it.
During the interview they covered a lot of ground, from their own experiences through to tips for new administrators just starting out. The conversation inspired me to consider exactly what it takes to be a great mortgage administrator. So, based on the content of Rob’s recent video and some of my own experience of working with brokers, here are some tips to think about.
Attitude is everything
There aren’t many mortgage administrators who enter the role with a wealth of mortgage industry knowledge — and that doesn’t matter. The most important thing when attending an interview for the role, or in the early days of the job, is how you present yourself, and maintaining an inquisitive attitude to learning.
Applying for a mortgage can be stressful for customers and you’ll probably carry a lot of that stress. Try not to take it home
If you’re a good communicator and work well under pressure, there’s no reason why you shouldn’t be a great mortgage administrator, but you need to make the most of opportunities to build your knowledge. Professional development is key. Read the trade press, attend webinars, go to events — make sure you’re always learning.
Learn to prioritise
Good diary management is one of the biggest factors in becoming a great mortgage administrator. There will be days when you have so many emails, you simply can’t deal with all of them. So, learn to prioritise, and don’t compromise quality for speed.
Communication, communication, communication
Lender turnaround times can sometimes be challenging, so work with your broker to identify lenders that consistently offer up-to-date service levels. If you’re struggling with a lender dragging its feet, maintain ongoing communication with the broker and the customer. It’s easier to be accepting of a delay if you’re kept informed.
Work on developing relationships with people at lenders and solicitors, as you never know when you may need their help
If in doubt, over-communicate. It can sometimes help to set expectations at the outset, without putting too much pressure on the process. It’s better to under-promise and over-deliver than the other way around.
Develop connections, and use them
The mortgage industry is special; almost everyone is happy to help each other for the benefit of the customer. Work on developing relationships with people at lenders and solicitors, as you never know when you may need their help. It’s a big win if you have a contact at the end of the phone who you can talk to. Use all your contacts to speak to lender BDMs and, if you can, underwriters too.
If you’re a good communicator and work well under pressure, there’s no reason why you shouldn’t be a great mortgage administrator
Also, get to know the customer at the outset. A five-minute call with the broker and the customer can make it easier if you need to request additional information.
Make hybrid working work for you
Hybrid working is a reality for most people nowadays, so make it work for you. Take time to understand what tasks you perform best at home or in the office, and plan your weeks around the best location to get those jobs done.
Take time out
Applying for a mortgage can be stressful for customers and, as a mortgage administrator, you’ll probably carry a lot of that stress. Try not to take it home. Find things away from work that you enjoy, block time to take a proper lunch break and take time out where you can switch off.
Given the impact of Covid-19 and the infamous Mini-Budget, providing efficient, transparent service to customers is vital
Hard work is part of the job but, if you push yourself too hard, you’ll suffer, as will the quality of your work. So, look after yourself to have the best chance of becoming a great mortgage administrator.
For more information on our mortgage administrator insights, please visit our website: https://pepper.money/intermediary/broker-resources/future-plans-of-mortgage-administrators
