"In this new world, it’s essential that the mortgage journey is as simple as possible and we’re looking forward to helping Principality turn that into a reality."
Iress’ MSO (Mortgage Sales and Origination) software enables brokers to complete Decision in Principles, allows for faster offer times by alerting brokers to case progress, provides simpler document sharing (with the ability for multiple user accounts to share) and removes the need for wet signatures.
Principality says the new technology will also enable it to bring new mortgage products to market quicker.
Currently in pilot, MSO will be released in phases to the Society’s brokers throughout 2020, prior to its full launch.
Julie-Ann Haines, chief customer officer for Principality Building Society, said: “We are delighted to be launching the MSO service for brokers. This latest technology will allow us to enhance our award-winning service by offering a seamless user experience for brokers, including allowing easy access to cases, a simpler registration process and document sharing.
“We chose Iress as they are the leading supplier of innovative technology in the mortgage market and we look forward to sharing the full implementation of the MSO platform with all brokers.’’
Andrew Simon, executive general manager of lending at Iress, added: “As one the largest building societies in the UK, and the largest in Wales, we’re thrilled to be helping Principality streamline their processes. In this new world, it’s essential that the mortgage journey is as simple as possible and we’re looking forward to helping Principality turn that into a reality.”
