Sourcing systems have come on a long way since Peter Nice built the first one in 1986. But is your current sourcing software offering you full functionality?
Not all systems offer whole of market sourcing and full integration with other systems, allowing you to control the way you view your information. Further key elements and functionality of a switched on mortgage sourcing software are:
1. Ability to view multiple tabs illustrating different client scenarios
Clients want to understand their options and after looking at A, B and C they’ll go back to A again. Using a single tab makes that time consuming and confusing. Using the multiple tab option, which are featured on the newest sourcing systems available, however, allows you to both illustrate the different requirements and retain them.
2. Client searches that can be saved and reloaded
Carrying out research for a client is essential. But it all needs recording and storing. The latest mortgage sourcing systems are capable of saving every different scenario and allow you to reload your searches at a later date.
3. Displaying excluded products
Sometimes a product which you think perfectly matches a client’s criteria isn’t displayed in the results. Today’s systems will display both matching and non-matching products so you can see the reasons for exclusion.
4. Personalisation for best buy schemes
Clients will often ask you about a ‘best buy’ product they have seen advertised. At the touch of button, your sourcing system should allow you to tailor the search results to display all the best buy products to meet a client’s requirements.
5. ‘Standard’ searches that can be stored and applied to your client’s terms
Intelligent sourcing systems save time by allowing you to store a number of searches which can be applied to every client with those needs.
6. Automatic importing of data from other systems
These days, sourcing systems have improved so much that they can now import information quickly and seamlessly. There’s no reason why you should have to start from scratch and re-key client data.
7. Sourcing overseas mortgages just as easily as those from the UK
Simply select the ‘overseas’ filter – your system should have one – and a list of countries will appear. Choose the one you need and the rest of the process is as if sourcing for a UK mortgage.
8. Source or produce KFIs for withdrawn products
If a product has been withdrawn, today’s systems allow you to easily find it by using the ‘withdrawn’ filter.
9. Manually remove products or schemes
Sourcing systems should allow you to remove products manually by adding your own exclusion options.
10. Source for adverse mortgages
Sourcing systems now provide you with a range of adverse products through the adverse filters option. These filters should help gain and retain clients.
11. Apply Buy to Let filters to speed up the sourcing process
Today’s sourcing systems allow you to select the BTL filter right at the start, which speeds up the process immensely. Other filters can be applied in the normal way.
12. Displayed and illustrate the effects of changing mortgage payments to your clients
A graphing function is offered by many of today’s systems which is an excellent visual way of demonstrating the short and long term impact of making such a change.
Our MortgageBrain Anywhere sourcing software is available on the Internet, any time and any place to suit you. It is a whole of market flexible sourcing solution, which we have recently upgraded.
What does the upgrade offer?
- Improved functionality with user-defined Column Order & Visibility settings (with reset option)
- Improved optimization so better view for:
- Devices with smaller screens
- Users that have their browser zoomed in
- Data entry tiles now correctly render behind the toolbar buttons.
- Screen size optimization
- A cantered log in prompt with better visibility on a small screen.
- Plus we fixed a number of bugs and made some minor enhancements
Find out, more and take our three month free trial: https://www.mortgage-brain.co.uk/MortgageBrain-Anywhere/