The Jamaica National Building
Society has implemented a two-fold development initiative to fast-track its
mortgage sales, according to Leon Mitchell, JN group marketing and promotions
executive.
“In the front end of the business,
we have established four regional mortgage centres, to come on stream as of
November 1 and assigned mobile mortgage sales agents to provide ‘hands-on’
management of the loan process,” he said. “While, in the back end, we have already
computerised and streamlined our loan processing, to achieve speedier and more
efficient decision-making.”
The JN regional mortgage centres
are in New Kingston, Mandeville, Montego Bay and Ocho Rios. They are geared to
provide faster responses to members and clients, to reduce the waiting time
previously experienced in branch offices and to provide a direct contact with
sales agents for more direct on-going account management, the mortgage provider
said in a press release.
All JN branches will serve as
‘referral points’ directing clients to the regional locations for more
personalised services.
“While there is concern about the
softness of the mortgage market, we are convinced that the business will grow,
hence our concerted drive to revolutionise our sales operation and loan
processing; thus, establishing a more ‘hands-on’ relationship with members and
clients,” Mr. Mitchell said.
In reference to the loans
processing side of the business, Mr. Mitchell explained that “with the total
computerisation of our application and loan approval process, we will also be
able to approve loans as fast as the client is prepared to move.”
“In addition, we will also be
examining our interest rates and looking at new products, as well as highlighting
our ongoing sales agreement with selected real estate developers, whose
products are resonating with local and overseas clients,” he stated.
JN General Manager Earl Jarrett
added that assisting members to save and own a home are two of the main
objectives of the building society. It was therefore incumbent on Jamaica
National to renew its strategies, and enhance its operations to meet the
changing demands in the marketplace.
“As a major player in the mortgage
market, we are committed to our members and clients,” he said, “and, based on
our experience and current analysis of the climate in the marketplace, we
believe that we are moving in the right direction.”
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