Casemaster the online processing system recently launched by Mortgage 2000 announces the addition of new panel member, Victoria Mortgages.
Victoria is owned by Venturion Capital, t. They were born out of the Mortgage Distributors Co-Operative (MDC) which was founded in October 2002. Victoria is a new Sub Prime lender with USP’s such as fully counting second incomes and taking a modern view on property types.
This brings the total number of panel lenders to 20 with further announcements due over coming months. In addition there have been enquiries from both packagers and Lenders alike for white-labelled versions of the system.
Managing Director - Sean Hornsby said: “We are currently in discussions with several parties regarding development of the system to offer them their own white-labelled version. The system will then sit within their own website or indeed processing centre, and potentially bring significant cost savings as well as improved service standards to their business”
“Within a relatively short space of time, Casemaster has attracted a fairly wide range of differing enquiries. We recently showcased the groundbreaking technology at the Mortgage Expo, Manchester” and over the period of the 2 day event Casemaster received interest from all sectors of our industry. We had a number of approaches from Networks who have identified the obvious benefits for them and their members, Lenders looking at data transfer and white-label opportunities, other Software companies wanting to integrate, as well as intermediaries just wanting to subscribe. All in all we are delighted with the impact Casemaster is having. Already some of the plans we had for 2006 are being brought forward in order to satisfy demand.”
Casemaster allows intermediaries to process mortgage applications from submission through to offer stage, including instructing references, and controlling the timing of valuations. The state of the art technology guides intermediaries through the underwriting process from credit search to offer using built in step by step guides which are tailored exactly to each individual lenders requirements.
The system is available 24 hours a day, 365 days a year, allowing intermediaries to work on cases when it suits them, and enabling them to prioritise cases in any order they wish. Users of the system are no longer reliant on the opening hours or service standards of packagers and lenders.
Intermediaries who use the system, not only receive the usual procuration fee, but also an additional processing fee for the administration work they carry out. Processing fees vary by Lender and product type, but average around £300 per case.
Benefits of the system to intermediaries include:
• Keeping control of the client’s application
• State of the art technology
• Easy to use with ‘On Screen’ help
• System available 24 hours a day, 7 days a week
• More efficiency and profitability
• Assistance with placing difficult cases
• Technical Support provided
• Intelligent underwriting system
