Preferred were announced today as the 10th to join the ranks of lenders supporting the Enhanced Non Conforming sourcing module on Trigold.
Preferred joins other sub-prime providers who account for over 80% of the market in supporting this development that goes to all Trigold users who account for over 60% of the market.
All of the detailed underwriting criteria of Preferreds product portfolio are now incorporated in the dynamic sourcing engine.
ENC is the cornerstone of a complete sub-prime solution on Trigold that includes enhanced Fact Find, Data Verification, KFIs and Electronic Applications. This solution ensures that the broker can search, sort, select and apply for non-conforming mortgages with complete confidence.
John Webster, managing director at Preferred, says: “For a number of years, we have been calling for the major mortgage sourcing systems to provide a viable solution for intermediaries to be able to accurately source non-conforming products.
“Since M-Day we have seen intermediaries increase their reliance on sourcing systems and, at our recent Quality Circle feedback sessions, a large majority named Trigold as their main system. Therefore, the decision to be included on ENC was a simple one for us to take and we look forward to working with Trigold to develop this further.”
Bill Safran, CEO of Trigold, says: “Non Conforming sourcing has been shrouded in darkness for too long and it is through the efforts of lenders such as Preferred that accurate, precise results are now available. Advisors who may not have extensive experience in the non-conforming sector can, with ENC, source with complete confidence.
“Client details captured as a part of a comprehensive Fact Find are now being intelligently used as the basis of sourcing to their full potential which is a significant step forward. Our 24,000 users will be thrilled that Preferred, a firm favourite of theirs, has become an ENC lender.”