With the COVID-19 pandemic affecting the housing market, brokers need lenders who are flexible and more agile than ever, according to a lending leader.
Paul Bakker, national manager of sales and strategic partnerships at Better Choice, shared how the company responded to the challenges brought by the pandemic.
“Firstly, Better Choice made many changes to our policy supporting social distancing,” Bakker said. “We’re one of the first to announce that will actually accept the use of video conferencing tools such as Zoom to complete verification of ID for brokers customers. Furthermore, we also changed our policy to accept digital and electronic signatures on our application forms and supporting documents for brokers and their customers.”
Better Choice also improved its connectivity, which sped up and streamlined the application process, while adopting the latest compliance technology.
“The loan application process is far more digitalized now for us, and it’s cutting down on the amount of manual paperwork for brokers,” Bakker said.
The non-bank lender also introduced new products which included medical loan up to 90% no LMI and one for nurses up to 85% LMI.