Our staff are experienced in mortgage sales, back office and servicing systems. Our solutions cover all aspects.
Mortgage Sales
‘Mortgage Sales’ is the part of the user journey where the advisor or intermediary (broker) interacts with the customer to gather and enter all the data required for the mortgage application. There are typically several stages including illustration, DIP, Product Selection and Full Mortgage Application. These stages have a variety of names, depending on the provider of the sales process application. The order in which information is entered also varies and this can influence the way a sales system integrates with external systems.
Hypothec consultants understand the sales process, system constraints and integrated elements of lender systems and how these will influence the design or implementation of new systems or changes.
Back Office
Back Office (sometimes called Originations) is the processing carried out by the lender to check the data entered during the Sales process, ensure that the application is affordable and not fraudulent, contact third party companies and set up the funds to be sent to the customer or solicitor.
The workflow and interaction of the different elements is often complex and requires the expertise of users with differing roles. Hypothec consultants have worked closely with operations and underwriting teams so can offer expert advice about the impact of change or introduction of new procedures. Our extensive experience with data integration can support new innovation to leverage the systems already in the lender’s estate or to implement innovative new technology solutions.
Servicing
In the long term, mortgages are held in a servicing system which deals with the collection of customer payments, interest rate changes, arrears processing and eventually redemption. There can be a close link between Sales and Servicing when contract variations are required, with data being transferred between them.
Hypothec consultants have experience with working with the major UK providers of servicing platforms and can manage new releases and change requests.