Does the mortgage lenders team at Commbank work weekends

Wondered if there is much movement with applications on weekends?

 

Sometimes, yes

 

Usually when they're really busy and timeframes have blown out.

 

The CBA really need to get it together. They frequently have periods like this and it seems to happen to the CBA more often than many other lenders. 10-12 days is simply too long to simply look at a deal.

The problem is, more and more often, I'm seeing serviceability as a problem for investors and the CBA can often be the most generous mainstream lender in this sector.

 

CBA does have assessment staff working on the weekends and often from home and afterhours. As mentioned, usually when they are backed up like they have been for the last few months.

I agree with Peter. Being the biggest lender in the country, they should be able to deal with these loads more efficiently.

 

They are only making several $Billion in profits. There’s not enough to hire extra staff.

 

They've changed their processes and risk appetite a fair bit in the last few months, so exceptions are going through the roof. Essentially approving a loan is taking them far longer than it used to, and requiring a lot more rework. Hence the slowness.
Still...5+ days for CBA is a bit much. Especially when their credit growth is half the market growth.

And yes, they do work weekends. We've been getting a few weekend calls from their credit staff of late.