FirstLine’s underwriters are now working Saturdays.
This should nicely enhance turnaround times on applications submitted after Friday’s close.
Apart from high-volume periods, it’s not that common for lenders to regularly staff underwriters on weekends. There are exceptions though. For example, Scotia underwriters (Business Relationship Managers) are sometimes known to work weekends. But it’s not the norm for most broker-lenders.
FirstLine is a division of CIBC and was the second biggest lender in the broker channel (by volume last quarter).
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Last modified: April 26, 2017
Open on Saturdays? Crazy! Nothing can’t wait until Monday, it’s the mortgage business not neurosurgery.
Go ask the underwriters, many people already working weekends at Firstline, just unoffically! RayB, you’re absolutely right :)
Open on Saturdays? Great. Now FLM underwriters can ignore calls and e-mails on weekends too.
Hi RayB: FirstLine definitely saw a demand for it. More people want fast turnarounds than one might think.
Anon: Maybe your underwriter is overloaded? Our FirstLine BDM and underwriter are almost freakishly responsive and we couldn’t do a lot of the deals we do without them.
Cheers,
Rob
Rob: or maybe Anon doesn’t have a website that gets as much traffic or influence as yours and therefore does not register on many Underwriters radar as easily. Just a thought!
Hi Banker,
That’s a fair assumption but we try hard to keep CMT totally separate from our lender dealings.
A more applicable reason is that we lucked out by getting assigned to really good people. We also do a fair bit of volume with FirstLine.
Keep in mind, every lender has good and bad eggs. Trust me when I tell you, we’ve had our share of the bad ones. LOL.
Cheers,
Rob
It was very common 5 years ago for underwriters to be working on the weekends or 9,10pm at night. There were of course those that were strictly 9-5, Monday-Friday and didnt care what was left on their desks.