Why “Turnaround Time” Is the New Currency in Mortgage Broking (And How to Fix Yours)

In mortgage broking today, trust isn’t built over weeks – it’s built in hours.

In a volatile interest rate environment, borrowers are closely monitoring movements, constantly comparing options, and acting more quickly than ever before. If a loan application takes days just to be reviewed or processed, confidence in the process drops. And once confidence drops, clients don’t wait around; they move on.

Turnaround time has quietly become the new currency in mortgage broking. Not because brokers don’t care, but because speed now signals reliability, competence, and control.

The good news?

Slow turnaround is rarely a people problem. It’s a process problem and one which can be fixed.

Speed = Trust in a Rate-Sensitive Market

When interest rates are shifting and lender policies are changing rapidly, borrowers want momentum. Fast responses reassure them that their application is in capable hands. Delays, on the other hand, create doubt.

A four-day lag between document submission and application processing might feel operationally normal – but to a client, it feels like silence.

Silence raises dangerous questions:

Is my application a priority?
Has something gone wrong?
Should I speak to another mortgage brokerage firm?

In a competitive market, speed isn’t just about efficiency; it’s about retention.

Where Turnaround Time Really Breaks Down

Most brokers assume delays are caused by lender SLAs or sluggish credit teams. In reality, the biggest bottlenecks almost always sit within the brokerage itself, even before the file reaches the lender.

Two problem areas consistently slow things down:

1. Manual data entry

Re-keying client information across CRMs, lender portals, and submission systems eats up hours. Errors lead to rework, follow-ups, and further delays, compounding the problem.

2. Document collection and checking

Chasing payslips, statements, and IDs, then validating them against lender requirements, quietly consumes a significant portion of a broker’s day.

These tasks are necessary, but they’re not revenue-generating. And when brokers are buried in admin, sales activity suffers.

The Hidden Cost of Slow Turnaround

According to Cotality’s Comparator data commissioned by the MFAA, mortgage brokers accounted for 76.8% of all new residential home loan settlements in the March 2025 quarter, the highest share ever recorded.

With brokers now handling the majority of new lending activity, delays in loan processing don’t stay isolated to individual files. They compound quickly and affect the performance of the entire business.

Slow processing doesn’t just impact one application. It affects the entire business:

Fewer applications submitted per broker
Lower conversion rates
Stressed teams working unsustainable hours
Inconsistent client experiences across the business or aggregator network

Over time, this drag limits growth. Even strong lead flow can’t compensate for a process that struggles to keep up.

Fix the Bottleneck, Free the Broker

The best mortgage brokerage firms take a different approach. Instead of asking brokers to “work faster,” they redesign the workflow.

In practice, what separates the best mortgage brokerage firms from the rest isn’t just lead flow or lender access. They recognise a simple truth: high-value brokers should not be doing low-value data entry.

The first step is simple: map the mortgage process end-to-end.

Where does an application actually stall?
Which steps require a mortgage broking license – and which don’t?
How much time is your team spending on repetitive, non-revenue tasks?

In most cases, removing mortgage brokers from data entry and document handling immediately improves turnaround time. Applications move faster, communication becomes more proactive, and brokers regain time to focus on advising and closing.

For aggregators, this also brings consistency – ensuring brokers across the network deliver a reliable client experience, regardless of size or volume.

Faster Doesn’t Mean Riskier

Improving turnaround time isn’t about cutting corners or compromising compliance. It’s about building a process where speed is embedded, not forced at the end.

When support teams handle structured admin work, and brokers focus on client-facing tasks, quality improves alongside speed. Files are cleaner. Submissions are stronger. And trust grows naturally.

Final Thoughts

For the best mortgage brokerage firms, turnaround time is no longer just an operational metric; it’s a competitive advantage built into the way the business runs.

If your mortgage brokerage firm or network feels stretched despite strong demand, the issue may not be lead quality or broker capability. It may simply be friction in the process.

The question to ask is: where is your time really going, and what would your business look like if brokers got it back?

Are your brokers stuck in the admin trap?

👉 Book a Process Audit today. We’ll help you identify where turnaround time is leaking and show you how a dedicated support team can unlock capacity and growth for your business.