Software upgrade 'halves' turnaround times

by Caroline Dann08 Aug 2012

St. George is prediciting its turnaround times will be cut by 50% as a result of a software upgrade.

The non-major recently upgraded its technology with the aim of making it easier for brokers to apply and submit all documents digitally, with a designated 'checklist'.
 
It says a loan will be turned around in four days, rather than eight days.
 
“This removes all ambiguity and doubt, and streamlines the process of delivering the application to a loan assessor,” said Clive Kirkpatrick, general manager of mortgage broking at St.George.
 
The technology, from provider NextGen.Net, is satisfying a need for faster results, said its sales director Tony Carn.
 
“As the mortgage industry enters a new stage, it is processing efficiencies that provide a truly competitive edge in the market. Applicants, brokers and lenders all benefit from a streamlined process that delivers quicker turnaround times,” he said.

Related news:

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COMMENTS

  • by PeterT 8/08/2012 10:46:53 AM

    I don't care about their turn around times, my problem is with their quality! They make plenty of errors then have very few systems to fix the errors in a satisfactory way.
    One recent customer was charged LMI on an 80% full doc loan, and is now being told it'll take 12 weeks to rectify the error!

  • by ozboy 8/08/2012 12:21:51 PM

    Not surprised by PeterT's comments. They are a long way a way from being relevant in the market place. Once they stop buying business things will get interesting. I mean how bad are your systems and broker education initiative if you can't even get the required documentation in the first go!?

  • by Gus 8/08/2012 4:06:11 PM

    4 days....and your happy with that!