Future Mortgages and West Bromwich are the first lenders to provide mortgage intermediaries with a complete online mortgage application process using Trigolds Electronic Trading Centre.
The e-mortgage community has been created by Focus Business Solutions and Trigold to drive e-commerce in the mortgage market. Focus technology has been integrated into Trigold to provide the capability for all Trigold users, (currently 60% of all brokers) to complete and submit electronic mortgage applications.
All lenders whose products are currently available on Trigold have had their original forms converted into a Focus form to enable them to start receiving the benefits of e-commerce via electronic data capture. However, Future Mortgages and West Bromwich have taken the opportunity to upgrade their offering further by providing mortgage intermediaries with a complete online application process. These new applications enable the straight through touch free electronic processing of new mortgage business.
Bill Safran, chief executive ofTrigold, says: “We have seen a real drive for e-commerce in the mortgage marketplace since the beginning of the year and it is really encouraging to see lenders such as Future Mortgages and West Bromwich taking the initiative to become part of this new e-mortgage community. We are already working with a number of other leading lenders to achieve this same status.”
Manjit Rana, director of Mortgage Solutions at Focus Business Solutions, adds: “The electronic mortgage applications provide both intermediaries and lenders with a more efficient method of transacting mortgage business at a much reduced cost. The benefits do not just stop there as once built, a lender can reuse their application on an intermediary extranet or consumer website to provide even further return on investment.”
The Future Mortgages and West Bromwich electronic applications are to go live shortly on the Trigold system and it is expected that the majority of leading lenders in the market will follow suit in the near future.