The 2011 IT Benchmark Study

Frank Eve, managing director of Frank Eve Consulting, outlines the results of the annual Benchmark Study comparing lender online distribution and application processing technology.

Technology within the mortgage market has changed out of all recognition over the last decade. Ten years ago discussion revolved around whether brokers would ever complete application data online and how many actually owned a personal computer. Fast forward to today and all application data is keyed online, every lender operates automated decision and underwriting systems integrated with credit reference agencies to provide online in principle decisions, and all intermediaries have to have a personal computer and access to the internet.

During this time Frank Eve Consulting Limited has produced an annual Benchmark Study comparing lender online distribution and application processing technology. The study, in its 10th year, has become the industry’s definitive survey of mortgage distribution and automated underwriting technology.

The objectives of the study have remained the same over the years – to assess market conditions in the light of the industry’s ongoing technology requirements and set the standard for emerging best practice in lender intermediary technology, as well as assisting lenders in understanding their competitive positioning.

Over the last few years the study has expanded to obtain intermediary feedback on lender distribution technology. Three separate pieces of research were undertaken this year, which when combined provide a unique assessment of emerging best practice in intermediary distribution technology.

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VCI invites you to a one day seminar

One Day Seminar – Increase income from your existing client bank

Viva Costa International invites you to a one day seminar to show you how easily you can earn additional income from your existing client bank. Our seminars are designed for agents who wish to learn more about the products and services that we offer.

  • NO pensions licenses needed
  • NO experience in property sales needed
  • FULL support provided by local key account managers
  • MIN 2% of the property price commission for referrals
    EARN between £2280 & £4987*
  • SEE the high quality developments available
  • TALK to the experts

*Based on an average case size for an introducer or seller

We only have a limited number of spaces available and they are booking fast.

Venue, Date and Time
Wed 14th Dec 2011 10.30am – 4pm
VCI, The Offices, Unit 1, George Reynolds Ind Est, Shildon, County Durham. DL4 2RB

Book your place now by calling 08450 664444 or click here.

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Win an Ipad with Berkeley Alexander Insurance

Berkeley Alexander, your general insurance partner, are giving you the chance to win an Ipad before Christmas.

All you need to do is click here and complete our Business Partner Survey and you will be entered into our draw.

We understand how you are all facing the multiple challenges of significant change (including RDR & professional examinations), increased compliance and the need to write business! Add to that the seemingly relentless march of technology, where firms with large marketing budgets are trying to attack your bread and butter business.

At Berkeley Alexander, we encourage you to continue to drive your GI business forward. We want to help you do this and it is important for us to understand what you want and need from a provider.

We are also just starting to undertake a complete review of our web based systems and what we need to provide you with into 2012 and beyond. Having worked for Berkeley Alexander for 6 years and been Sales & Marketing Director for almost a year, I am passionate about this business. It is important to me that Berkeley Alexander is your GI provider of choice and I want you to want to deal with us. I therefore would love to hear from you with your feedback and thoughts, so e-mail me on mhutchings@baonline.co.uk and tell me:-

  • What you’d like us to do that we don’t currently.
  • What could we do better?
  • What you like about other providers systems.

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Mortgage Brain set to acquire MortgageStream

Mortgage Brain, the market leading mortgage technology solutions provider, has announced that it has agreed the terms to acquire point-of-sale and case management provider, MortgageStream.

The acquisition, which is expected to be concluded within the next few months, will mean that MortgageStream’s customers will have direct access to multiple product channels including mortgage sourcing, e-trading, website provision plus a wide range of business partners offering cross sales opportunities.

Click here to view the full article.

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Conti teams up with Global Currency Exchange Network

Conti, the overseas mortgage specialist, has teamed up with leading international currency broker, Global Currency Exchange Network, to offer a new foreign exchange service – ContiFX.

The new relationship means that brokers can earn commission every time their clients transfer money abroad, whether it’s regular payments for an overseas mortgage, or the funds for a deposit.

ContiFX will give their clients a better exchange rate compared with a typical high street bank, and there are no fees to pay, or any limit to the amount which can be transferred.

This is an exclusive arrangement and means that GCEN is the only international currency broker being recommended by Conti to its clients, and Conti is the only overseas mortgage broker to have a relationship with GCEN.

More developments are already underway in terms of other propositions to be offered through the ContiFX service.

Clare Nessling, Director at Conti, says:

“We’re committed to providing brokers with additional services, and, where relevant, partnering with appropriate organisations to help them provide a fast, efficient and competitive service to their clients.

“This is the ideal partnership and one which will allow brokers to help their clients save money, but to earn commission for themselves at the same time.”

Nathan Bullas, Director of GCEN, says:

“Foreign exchange services go hand in hand with overseas mortgages, and we’re delighted about this partnership and the competitive services which will be available through ContiFX.

“We’re always looking for ways improve the proposition we offer and this new service should certainly make life easier for brokers who are tapping into the overseas mortgage market, and whose clients need the support of a currency specialist.”

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France still the most popular location for a second home

In a recent survey carried out, France continues to be the most popular location for a second home for buyers from the UK.

France has not seen the dramatic house price decline as in other European countries and its banks have continued to lend on second homes, thereby stimulating the market. The relative stability of this market and its ease of access from the UK mean that buyers remain confident to invest.

If you have clients looking to purchase in France speak to one of our underwriters to find out what finance options are available.

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