View more on these topics

Table 4: Loan application submission and processing functionality

Online case tracking through underwriting and conveyance
Basic threshold requirements Current best practises Emerging best practises
Loan application in Adobe. PDF format to print out and complete manually Online application data entry screen with ability to save partially complete application Pre-populate mortgage application from AIP and trading platforms
Print and fax or mail application Electronically transmit data from website to lender system Packager and solicitor website access
Online or fax AIP request to lender Electronic AIP decision transmission from lender to intermediary AIP pre-populates full mortgage application
Online case tracking for AIP and fullmortgage application
Source: TowerGroup

Recommended

Pre-tax profits up by 15.4% at Paragon Group

Pre-tax profits are up by 15.4% the Paragon Group has revealed in its yearly results, ending September 30 2003. Including the effect of acquisitions, profits grew from £46m in 2002 to £51.9m in 2003. Britannic Money was purchased for some £18.8m, which Paragon reports is now operating at aprofit. The company says that the outlook […]

The Mortgage Partners defends its choice of name

The Mortgage Partners has defended its choice of name following objections from The Mortgage Partnership. In a letter to Mortgage Strategy, a representative of The Mortgage Partnership insisted that the company had “no connection with another company of a similar name offering what purports to be a similar service.” In response Kevin Paterson, managing director […]

Bank of Scotland scoops three awards

The Bank of Scotland scooped three awards at the Business Finance Expo and National Association of Commercial Finance Brokers&#39 Gala Awards held on Tuesday. The awards, held at the Natural History Museum, saw BoS win Business Bank of the Year, Online Banking Provider of the Year and Commercial Mortgage Provider of the Year. Both Bibby […]

Net dominance is a distant dream

Colin Dale, head of lending, Skipton When people talk about internet lending, it&#39s worth asking what their definition is. If they are referring to the fact application forms are available online, then the practise is widespread. If, however, they are talking about housebuyers being able to fill in a form online and press a button […]

Newsletter

News and expert analysis straight to your inbox

Sign up