The main aim of this project is to study about the customer service of mortgage brokers and make its comparison with mortgage brokers of other companies who provided similar types of services. With this project, the intent that I want to achieve is to analyze regular activities of mortgage brokers and services that they provide to customers. In order to achieve this aim, the following objectives need to be accomplished:
To identify and evaluate services that mortgage brokers provide to customers
To determine similarities and differences in customer service of company’s mortgage brokers and service of other companies’ mortgage brokers
To determine ways of improving customer service of mortgage brokers
According to Høst and Knie, Andersen (2004), customer service of mortgage brokers has cost effective and quick to provide required loan as per financial requirement. From their research, it is determined that they provide flexible and on-demand services to the customer through the efficient loan process, which is effective to improve cost management and risk management. These benefits of using mortgage brokers are beneficial for both borrowers and lenders (e.g. banks and financial institutions). In opposing of this, Marshall, (2014) depicts that there are still various areas for improvement in customer service of a mortgage broker in order to achieve higher levels of client satisfaction.
In the words of Amoako (2012), training of existing mortgage brokers can be useful to improve the quality of customer services and their impact on customer satisfaction. It is because training sessions can be an effective way to ensure the presence of knowledgeable, trained and expert mortgage agents at the workplace, which is critical to enhance services that they provide to customers. In this regard, Marshall, (2014) also states that personalized mortgage broker campaigns and live chat with clients can also be effective to quality and effectiveness of customer service of mortgage brokers. The main reason behind this is the significance of these strategies in improving entire mortgage lending process by reducing its complexity.