A joint venture has seen the launch of a completely paperless documentation service at one specialist lender.
Customers will now be able to sign their complete suite of home loan documents, including the Letter of Offer from the lender, digitally.
La Trobe Financial and MSA National have teamed up to produce the service to help deliver faster turnaround times and reduce the risk of lost documents.
Chief settlement officer and vice president of specialist lender La Trobe, David Bleakley, said the launch was a positive for brokers.
He said, “The move to digital documents is of great benefit for our brokers as we now give them the tools to more seamlessly and effectively engage with their customers from anywhere, at any time via any device.
“Last week we had borrowers who needed to settle their purchase of the home of their dreams within a very tight timeframe.
“The broker reached out to La Trobe Financial and, with the assistance of the digital document solution, the borrowers were able to receive, review and execute their loan and security documentation within a short period of time, which allowed settlement to proceed within the specified timeframe.
“[It] is one of many customer enhancement initiatives La Trobe Financial will be rolling out in the next 12-months.”
Chief Executive Officer of law company MSA, Ayhan Baba, said, “The customer experience today more than ever, relies on close collaboration between the lender and its settlement agent.
“It was clear when we first met the team at La Trobe Financial that we had a similar vision and compatible culture.
“We both want to transform the customer experience by using digital technology, but we both also value the human interaction that overlays this.
“Digital is all about doing away with paper and delays and unnecessary expenses but the customer still wants human connection when coordinating their loan settlement. It is this blend that will win the hearts of customers and their mortgage brokers.
“At the end of the day we are still people serving people. Our job is to strip away complexity and relieve the anxiety of the mortgage process.”