Top UK non-conforming lenders GMAC-RFC, Kensington, SPML, igroup, First National and Mortgages PLC, are to launch a new enhanced non-conforming sourcing module on Trigolds Prospector AAA sourcing system.
Created in close partnership with these six key lenders, who account for over 80% of non-conforming lending, ENC offers brokers the most sophisticated non-conforming sourcing tool in the market.
ENC is different because it has been created specifically to accurately source non-conforming products, taking into account the detailed underwriting criteria of each lenders portfolio.
ENC is the cornerstone of a complete non-conforming solution 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.
Accessed through Trigolds Prospector AAA, ENC delivers a range of new features and benefits for both brokers and lenders alike:
Benefits for Brokers:
* Enhanced client Fact Find.
* Detailed sourcing based upon individual credit conditions.
* Lenders individual underwriting criteria included in the system.
* Lender-specific affordability calculators.
* Accurate reflection of Grid products.
* Electronic application and AIP integrated with partner lenders.
* Verified mortgage data from partner lenders.
* Free to standard Trigold users as part of Prospector AAA.
* Entire sales process support including production of KFIs for non-conforming products.
Benefits for Lenders:
* Delivery of product USPs [Unique Selling Proposition] to the brokers desktop
* Ability to verify product data and criteria.
* Comprehensive and flexible system supports further product innovation
* Faster delivery of AIPs and applications through technical integrations.
John Prust, sales and marketing director at SPML, says: “The systems 18,500 users can now utilise an accurate sourcing tool that meets the specific needs of the sub prime marketplace.
“We believe it will provide huge benefits for lenders and mortgage brokers alike.”
And Gerry Bell, brand leader, GE Consumer Finance Home Lending, adds: “We welcome the development of a sourcing system designed specifically with the specialist lending market in mind.”
Jeff Knight, head of marketing services, GMAC-RFC, also welcomed the initiative.
He says: “The specialist lending sector represents a significant part of the overall mortgage market. A tool that provides brokers with the ability to source products for all their clients mortgage needs is a welcome development.
“As the leading non-conforming lender, GMAC-RFC is delighted to have been able to work with Trigold on this initiative.”
Keith Street, director of sales from Kensington Mortgages, adds: “Kensington embraces every opportunity to be involved in new initiatives which benefit the non-conforming sector and have been especially pleased to be involved in Trigold’s ENC.
“Now, more than ever, the introducer has the ability to obtain sophisticated and accurate information on non conforming areas which will undoubtedly assist delivery and improve the overall service to the end customer.”
And Peter Beaumont, sales and marketing director of Mortgages PLC, says: “Non-conforming products have not been adequately addressed by sourcing systems for too long and its good to see Trigold taking the initiative and addressing the issues.
“As we all get used to working in a regulated mortgage market, it is important that brokers have the confidence to use sourcing systems for all their needs, including non-conforming products. Mortgages plc is delighted to be supporting this initiative.”
Bill Safran, joint managing director for Trigold, says: “With the highly creative and varied product and criteria innovation demonstrated by specialist lenders, brokers have almost needed a sixth sense to know where to place certain cases.
“By working with lenders who account for over 80% of the sub-prime market, Trigold has delivered ENC, which provides a complete solution for the sub-prime market. ENC will streamline the sales process while providing the broker with a greater level of confidence.
“We are highly flattered that these lenders have selected Trigold to deliver their proposition to the brokers.”