From the perspective of this research discussion and results analysis, there exists an opportunity to support the customers and make them better informed by improving over their process of mortgage borrowing. This is completely in the hands of the mortgage brokers as they are the initial helping-hand to the customers (Saunders, 2003). Furthermore about third of recent homebuyers did not shop around for other mortgage quotes and they often reported to be satisfied with their initial quite. Prior experience with mortgage brokers did not make the mortgage likelihood in future from the same firm. Customers in the sector have a tendency to be completely acting on their referrals. This is one of the major trends identified in the paper.
All the findings in this paper are supported through secondary data research review. Most of the literature has focused on stating that mortgage brokers are essential for the customers because they have variety of options and services that they can offer (Amoako, 2012). It was also evident that mortgage brokers generally act as borrowing agents which communicate with their lender so as to provide a suitable option for loan to the consumer as per the customer’s goals’ and situation at hand financially. The primary research findings revealed that the loan information disclosure to the borrower along with acting in best faith through transparency is part of mortgage broker’s duties. This is in alignment with secondary literature research as indicated by Bachelor, (2014). Making false promises as per the respondents in the study were unethical and illegal on the part of mortgage broker and therefore at times their services may not be as useful for the customers as they should be (Bachelor, 2014).
However according to Green et al (2005), these false promises also have the capability of influencing the customer service quality that mortgage brokers provide and at times this causes businesses to severely face the consequence’s (negative brand image). It is evident from analysis and discussion presented in this section that mortgage brokers face several issues when providing effective information to the customer. Most of the times, these issues are related to either increasing their individual profit or trying to make the customer feel a particular mortgage option is at their best interest. Providing mortgage brokers with skills and appropriate training to the brokers will certainly add value not only to the customer satisfaction but as well to the organization’s image on the whole. Cheng Gong Credit Corporation should seek towards the recommendations offered in this paper in order to handle the experience of the customers.