Saturday, July 31, 2010
Electronic ApplicationsMinimize

{this is a prototype project} See Loanapp for the commercial lodgment platform

The current methodology behind electronic applications has focussed on taking paper-based forms and creating electronic versions with a common communication schema, merely shifting the data entry from the lender to the mortgage broker, with no real quality or process improvements.

The major problems in processing mortgage loans from mortgage brokers lies in the quality of applications, selection of the correct products and options, pre-assessing serviceability and supplying the correct supporting documents.

Simpology's solution takes these basic foundations and adds a sophisticated engine to an advanced electronic application form to address and solve these problems at the source and deliver the desired processing efficiencies.

1.

Every application is checked against full, LIVE credit policy; any issues are identified at the time of application, before submitted to the lender.

        = Qualified Applications 

2.

All supporting documentation is verified for accuracy before submission giving brokers the ability to collect accurate supporting documentation from borrowers.

        = Correct Supporting Documents 

3.

Unlike existing applications, the Simpology electronic submission system allows for complex loan structures such as Companies/Trusts; probationary periods; workers compensation; maternity leave to name a few.

        = Advanced Capabilities

 
More InformationMinimize

For a personal demonstration of the system and/or discuss the possibilities for Lenders, Mortgage Insurers, Aggregators and Mortgage Brokers, please contact:

Kate Gubbins

Mobile: 0422 87 31 21

Email: kategubbins@simpology.com.au

 

 
Selecting ProductsMinimize

Simpology’s system automatically searches through the applications data checking to see which products and loan options are suitable.

One of the more advanced features is the ability to cross-sell other lenders products at the time of application.

Mortgage brokers now have all the information available throughout the loan selection process, ensuring clients are fully serviced and lenders receive accurate applications every time.
Checking ServiceabilityMinimize

Behind Simpology's electronic mortgage application system is an advanced credit engine which automatically identifies any known OR likely serviceability issues, alerting the broker at the time of application, before being submitted to the lender.

Imagine how much time, money and stress would be saved if every application was automatically checked against full lenders serviceability policy before being submitted for approval!
Verifying DocumentsMinimize

Any mortgage application is only ever as good as the supporting documents accompanying it.

Each item that requires supporting documents, displays full details of the data entered into the application, the options for the supporting documents, and each individual documents content requirements.

With Simpology, Mortgage Brokers can now request supporting documents from clients with confidence and anticipate faster approval times with less re-work.
Managing ApplicationsMinimize

Simpology has developed a really simple to use, safe and secure Application Management system designed to suit the Mortgage Broking process and solves many inefficiencies of current solutions.

Application management uses a familiar, email like process to manage applications. Applications can easily be shared between other team members just like forwarding an email. Users can also use the same method to transfer applications between computers, without any synchronization problems!

The appearance is also easily changed through the user management system to reflect each Mortgage Brokers' brand or Groups' image, which is really important when taking an application with a client.

Mortgage Brokers now have the ability to take control over all their applications in progress.


Creating ApplicationsMinimize

Simpology has focused a lot of attention on the Data Collection process Mortgage Brokers must go through in order to submit an electronic application and solved many issues to improve efficiency, accuracy, and uniformity of every loan submission.


One of the key time saving features built into the data collection process is the automatic creation of relationships. Relationships exist between: Individuals and households, Couples and households, Children, Companies, Trusts and Businesses, Directors, and shareholders.

Relationships allow the system to automatically enter all duplicate data across Individual and company applicants, always working ahead to ensure efficiency, continuity and accuracy of every mortgage application.

Mortgage Brokers use the same form and process for every lender.


Advanced Credit EngineMinimize

Imagine having the ability to setup an entire lender in the system in less than one day, receiving applications from mortgage brokers the next.

Imagine being able to instantly update every mortgage broker's system, from small interest rate adjustments, to radical changes to products, policies, and procedures.

Imagine having complete control of the information mortgage brokers collect in each and every mortgage application based on the individual applicant's situation and requirements.

It’s all possible with Simpology!

Simpology's Lenders Content Management system is an agile, flexible, advanced credit engine, connecting the mortgage brokers electronic application system to Product Information, Serviceability Policies, Supporting Documents, Business Rules and Procedures in a standardized format for every lender.

The system has all the necessary capabilities for auditing, authorizing, versioning and management, of an enterprise application.

Simpology has re-defined electronic mortgage application systems to improve processes, create efficiencies, delivering a superior service to all those placing their trust with professional mortgage broker.

All trademarks, trade names, service marks and logos referenced herein belong to their respective companies. Simpology Pty Limited has no association with these companies.

Copyright 2008 by Simpology Pty Limited