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E-supporting docs slated to be mandatory for brokers

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Australian Broker | 19 Jun 2014, 07:48 AM Agree 0
An electronic supporting documents service which cuts down formal approval time for loan applications has had promising uptake by brokers
  • Dave | 19 Jun 2014, 11:59 AM Agree 0
    I'm sorry but why would I take more time to upload documents one at a time rather than scanning everything & attaching it to an email for, in reality, no saving other than time for assessing on the banks side. This seems to be something driven by banks to steamline their side & make brokers do more work for our income.
  • oldBroker | 19 Jun 2014, 03:26 PM Agree 0
    Wow, NextGen has their first new innovation in 10 years. Thank goodness there is a monopoly. Would hate to think what true competition would give us.
  • jason | 19 Jun 2014, 08:16 PM Agree 0
    you dont need to upload each document individually - you upload however many pages as 1 document & then it takes about 5mins to drag and drop into each area - overall time taken is less than 10mins.

    the software even helps blackout tfn's that you may have overlooked
  • Old Country Broker | 20 Jun 2014, 09:46 AM Agree 0
    If it means this will increase the commissions we get paid (because let's face it we are again doing the work for the banks) - bring it on I say!!
  • Broker | 20 Jun 2014, 10:57 AM Agree 0
    Sill easier to just email as one doc pack via my email account
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