Promise of &#39seamless&#39 mortgage processing

Software company Exigen has developed a technology solution that aims to achieve cost savings and seamless processing across all mortgage operations.

The model allows the different systems used by lenders, packagers, brokers and all other parties in the mortgage processing chain to link up. It is already established in some parts of the Australian mortgage market.

The company says it can identify the best processes within the mortgage value chain for outsourcing and the creation of mortgage third-party administrations (TPAs). Exigen operates on a shared-value business model, sharing in both risk and cost savings.

Delegates at last week&#39s Best Practice in Mortgage Processing conference got a chance to examine Exigen&#39s proposition and several were impressed with what they saw. Bill Dudgeon, managing director of The Mortgage Business, says: “It looks very interesting. No matter what your system is and what your customer&#39s systems are, Exigen provides the plug that allows you to connect. This takes a lot of hassle out of the systems issue, which involves trying to build platforms that will speak to each other.” TMB is due to meet with Exigen in the next few weeks to discuss the proposition. Dudgeon adds: “The other key part of the conference for me was Moneyquest&#39s presentation, where it was pointed out that it will be frustrating for brokers if its technology doesn&#39t link in to the platforms. It needed to be able to type things in once. This technology may help.”

Mark Lofthouse, chief executive of Mortgage Brain, is also due to meet with Exigen. He says: “This innovative proposition looks as is it has potential advantages for the lender community as a front-office solution and, if lenders decided to adopt it, we would look into it as well.”