A software system has been launched which offers mortgage brokers the chance to process applications through to offer stage themselves.
www.softpackaging.com, launched last week, offers brokers a web-based mortgage administration system allowing them to process a mortgage application through to offer stage. Full criteria and product information from lenders is listed on the system which also guides intermediaries through the underwriting process.
The system has been created by the Mortgage 2000 Financial Group and will be directly linked with the Mortgage 2000 sourcing system. M2000 says the system will give brokers control of case processing through issuing references and all documentation. It says brokers will be able to earn an extra £150 to £200 per case.
Managing director Sean Hornsby says: “Softpackaging will undoubtedly appeal to intermediaries who currently deal with packagers as it allows them to earn extra income for work that in most cases they are already carrying out.
Softpackaging will initially be available to all members of M2000's independent mortgage and general insurance network m2i.
Brokers will be able to access the system free of charge and earn processing fees.
Louisa Sedgwick, regional sales manager at Mortgage Express, says: “This is undoubtedly a significant development, especially at a time when electronic processes are high on the agenda.
“And, of course, it adds value to the m2i proposition.”