Accord Mortgages has rolled out its new Mortgage Sales and Originations (MSO) platform, offering brokers a 24 hour turnaround capability on residential applications.
The lender cleans that in addition to processing cases much faster, the software is easier to use and cuts out a lot of the repetitive tasks currently involved.
New features also include online DIP certificates, uploading of documents at DIP stage, real-time case tracking and the ability to view and print offers, making it easier for brokers to get quicker lending decisions for clients.
All of Accord’s registered brokers are now registered users of the new platform, which has been delivered following the largest technology investment in the history of Yorkshire Building Society.
Jeremy Duncombe (pictured), director of intermediary distribution at Accord Mortgages said: “Whilst nothing can replace human interaction through a mortgage application, we know that antiquated systems are frustrating and time-consuming for brokers.
“This platform simplifies the whole process, allowing intermediaries to spend more time on the elements of their role they value most – talking to clients.
“MSO gives us the best of both worlds, allowing us to process cases a lot quicker whilst freeing up our underwriting teams to spend more time on common sense underwriting, assisting more buyers to get the homes they want. Brokers will still have direct access to our underwriters throughout. MSO also has the ability for future API integration with brokers and other third party providers.”
Scott Richford, a broker from Mortgage Bureau, said: “I submitted an application on Monday lunchtime and uploaded the documentation as the client’s income was not straightforward. Valuation was done Wednesday and offer came through on Thursday morning.”
Duncombe added: “The system is very intuitive and brokers will see cases are coming back even more quickly than before. We’ve done great things over the past few years, all with the broker firmly in mind, and we see this as the next exciting chapter of our transformation.”