Crown Mortgage Management has developed an end-to-end solution for new entrants or those looking to new product sectors in the UK mortgage market.
Working with BancTec and its eFIRST Origin system, Crown says the new platform offers a “fast, low cost and fully compliant” end-to-end solution for anyone looking to originate new mortgage loans in the UK market.
The system integrates with Crown’s loan administration system and can be used to accommodate a range of distribution channels including via a branch network or the intermediary sector. The functionality provides decision in principle and KFI capability, applications can then be submitted online for processing and underwriting.
In addition, reporting suites are available to track progress of applications and to keep clients up to speed with all aspects of their business.
At point of sale the system can be labelled to give increased profile to the clients’ chosen brand and it accommodates a broad range of residential mortgage products including fixed rates, discounts and trackers. Buy to let and equity release options are also available.
Andrew Doyle, chief executive for Crown Mortgage Management, said: “Strategically this is a significant development that sets us apart from competition. The role of a mortgage servicer is to add value by solving their client’s challenges in a cost effective and compliant way. This new initiative is another example of the investment in our business to accommodate a range of needs in this ever-changing market.
“It is well timed as we enter 2014. The recovering market and improved credit outlook means that many lenders are confidently looking at increased levels of origination. We can now get them into new markets quickly or offer increased capacity to help them achieve their higher ambitions.”
