Software provider Rubicon Software Group is launching a sourcing system for packagers.
Rubicon was set up in 1989 and has produced software for organisations including Norton Finance, Market Harborough and ICI Paints.
The firm is working on the new system with a number of packagers and aims to launch it by March next year.
As well as sourcing, the system will provide case tracking and full application processing.
Alistair Hancock, chief executive of Rubicon, says: “Now our packager clients can accurately source sub-prime loans and mortgages. We also have automated underwriting and packaging to improve the quality and speed of the process from enquiry to completion.”
Roger Morris, managing director of em-financial, says most larger packagers have their own systems.
But he adds: “The system is aimed at small packagers that can’t invest in their own technology. The problem with outsourcing technology is that it isn’t personalised to a packager’s individual requirements.”
John Mawdsley, director of The Mortgage Partnership, says: “We have had a lot of false dawns with technology solutions that have appeared over the horizon and then sunk without trace.
“We are always being disappointed by software solutions. I hope Rubicon is not another false dawn and look forward to seeing it in action.”