And the big banks get a free kick out of it
We speak to an expert on the process of making the recommended changes
- 2018 Commercial Lenders Roundtable
- Top 10 Brokerages 2018
- 2018 Brokers on Aggregators
BDM in the spotlight asks a different BDM the same questions – giving you regular insights into the lives of some of the top BDMs in the country.
Name: Cameron Louden
Years in the industry: 20 years in banking and finance, 10 years in insurance
Company: Pepper Money
Location: Melbourne, Victoria
1. What did you do before entering the industry?
My past two roles were in the insurance industry: state sales manager for Swann Insurance (motor vehicle and motorcycle insurance) and state manager for Honan Insurance Brokers (strata insurance). Prior to that, I was a mortgage broker in Tasmania.
2. How often do you see mortgage managers in a week?
I normally get to see a minimum of 15 brokers per week. Some weeks we organise coffee clusters or webinars.
3. What do mortgage managers want most from you?
Most brokers want a solution to help their client. At Pepper Money, we are well versed in finding solutions that mainstream lenders may not be able to offer. This might be through offering finance to people with adverse credit or lack of financial information that would allow them to apply for a full doc loan.
4. What is your favourite part of the job?
Helping brokers help their clients into a home or investment property when others have not investigated alternative options and gone the extra mile to find a solution.
5. What distinguishes the best brokers you deal with?
The best brokers don’t accept a “no” from a lender. They look for solutions. They use their contacts in the industry to find a way to help a customer. The best brokers think outside the box and look for ways to improve their business, whether that is through diversifying their target market to areas such as alternative lending, or by using lenders that are there to provide solutions.
6. What’s your ideal weekend?
During winter, it is going to the football with my wife and watching Collingwood play at the MCG. Summer, it is an afternoon BBQ with friends and enjoying the weather, or exploring one of the many restaurants and suburbs in and around the city that we haven’t visited yet.
7. What’s the strangest lending scenario you’ve ever encountered?
Many years ago, I had a client who wanted to buy a resort and island off the coast of Queensland that had been damaged by a cyclone. The client couldn’t understand why the bank was reluctant to look at the deal given the repair that was needed. The client was adamant it was a good investment and was willing to purchase it at an auction without approval. We decided early on to walk away from the deal. I noticed six months later it was still for sale.
8. What's your top time-saving tip and how much time does it save you?
At Pepper Money, we use Salesforce as our CRM system. I use the app on my phone to log phone calls and meetings straight after I have completed them. This way I can remember who I spoke to, what we spoke about, and ensure that all follow up items are recorded. By using the APP, I get to save at least an hour each night.
9. What’s your favourite meal?
Roast lamb on the BBQ with roasted vegetables and gravy. I make sure there is enough lamb left over for lamb rolls for lunch the next day.
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