Preferred Mortgages has chosen the web-based SDS MAPS system to support its introducers under FSA regulations.
The SDS system is a web-based software package that will be available to Preferred Mortgages' introducer partners.
Introducers will have 24-hour access via the internet to product searches, a KFI generator, online application forms and status tracking facilities.
The system incorporates application entry, sourcing and decisioning, document production, case tracking, XML interfaces and reporting functions.
Designed specifically to handle the complexities of the UK sub-prime market, Preffered says the system holds details of complete product profiles to ensure penny perfect KFI documents.
The system also features interfaces to mortgage packagers, brokers, information providers and common trading platforms.
John Webster, business development director at Preferred, says: “We selected SDS MAPS because we believe it is the most robust and flexible system on the market. The system provides a simple solution to delivering the KFI under the FSA regulations, whilst providing an excellent range of online facilities for our introducers.”
Barry Yager, commercial director of SDS, says: “We're delighted to be working with Preferred Mortgages on this important project. There is enormous potential for lenders to use web technologies to cost-effectively improve their service levels and to develop multiple channels of business.”