New resi mortgage origination platform launched

Crown Mortgage Management has today announced a new residential mortgage origination platform.

Related topics:  Mortgages
Amy Loddington
3rd February 2014
Mortgages

Working with BancTec and their eFIRST Origin system Crown has developed an end-to-end solution for new entrants or those looking to new product sectors in the UK mortgage market.

The system works with Crown’s loan administration system and can be used to accommodate a range of distribution channels including via a branch network or the intermediary sector. The functionality provides decision in principle and KFI capability, applications can then be submitted online for processing and underwriting. Reporting suites are available to track progress of applications and to keep clients up to speed with all aspects of their business.

At point of sale the system can be labelled to give increased profile to the clients’ chosen brand and it accommodates a broad range of residential mortgage products including fixed rates, discounts and trackers. Buy to let and equity release options are also available.

Andrew Doyle, Chief Executive for Crown Mortgage Management, said:

“Strategically this is a significant development that sets us apart from competition. The role of a mortgage servicer is to add value by solving their client’s challenges in a cost effective and compliant way. This new initiative is another example of the investment in our business to accommodate a range of needs in this ever-changing market.

“It is well timed as we enter 2014. The recovering market and improved credit outlook means that many lenders are confidently looking at increased levels of origination. We can now get them into new markets quickly or offer increased capacity to help them achieve their higher ambitions.”

Steve Downey, BancTec UK & Ireland General Manager, commented:

"BancTec are delighted to be working with Crown on this exciting initiative that will transform Crown’s business as they move into the originations space. Working together strategically, BancTec and Crown will form a formidable partnership that will cater completely for the mortgage and lending arena end to end."

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