Law firm unveils paperless home loan pack

by Miklos Bolza07 Dec 2016
Australian law firm MSA National has launched its New Generation Digital Documents – a “complete home loan pack” that allows brokers to save time and service clients more efficiently.
 
“Now the complete home loan pack including the contract, mortgage and direct debit form can be sent to the customer at the click of a mouse, signed at the click of a mouse and sent back to MSA instantly. All without touching a single piece of paper!” said Sam Makhoul, managing director of MSA.
 
“Customers can now sign their mortgage documents anywhere in the world. No more postal delays and express post costs.”
 
This mobile application helps brokers avoid filling out unnecessary forms and photocopy documents on-screen with the client, Anthony Aupek, ‎paralegal at MSA National told Australian Broker.
 
“One, they take a photo of the borrower using the app; two, they take photos of the ID in front of them; and three, the borrower reads the statement and signs it on their screen.
 
“It’s all interactive with each other. It’s a flowing conversation rather than walking away and coming in, taking off and coming back, etc.”
 
All photos and documents are uploaded onto an encrypted server rather than onto the phone itself. This added security measure means that if the phone is lost, the data and the client’s privacy are still protected, Aupek said.
 
Brokers can use the application anywhere in the country, meeting with clients face-to-face without having to carry additional documents everywhere.
 
An industry first
 
“This is the first and only app that we’re aware of that’s 100% compliant with the government’s requirement around VOI (verification of identity of an individual). No one else has this application out there on a mobile phone that’s been approved by some of the major lenders to go ahead and be used for next year,” Aupek told Australian Broker.
 
In the two weeks since the suite has been launched, feedback has been very positive, he added.
 
“There’s been a lot of interest and enquiry. A lot of people have been emailing me and my counterpart, George Kogios, in regards to getting access so they can log in and try it out.”
 
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ASIC introduces digital toolkit for financial advice
 
Non-major launches loan application tracker
 
Aggregator rolls out new refinancing portal

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