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Non-banks and non-majors continue to lead on turnarounds
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Turnaround times for broker loans lengthened at all four major banks in April 2021, but non-majors and non-banks continue to improve or maintain their decision speeds, new data shows.
According to the latest Broker Pulse survey from Momentum Intelligence, which received 247 responses from Broker Pulse members between 1-10 May 2021, all four big four banks are continuing to experience long delays in their time to initial credit decision.
The expansion of the major banks’ turnarounds – which is currently a major broker concern – contributed to the average lender turnaround figure blowing out to 11.5 days for broker loans.