In the last two months, the number of online decisions made has increased by over 70%. This follows recent reports of record levels of applications being received at the company’s head office in Bracknell.
Jeff Knight, Head of Marketing Services at GMAC Residential Funding says: “Technology has a vital role to play in the mortgage market. It gives lenders and intermediaries greater efficiencies. With a binding decision such efficiencies are enhanced as it creates immediacy, certainty and frees up time for the intermediary. It gives them greater control too as they can book funds and valuations on-line – before their client has left their offices.”
”We are currently the only lender offering online decisions that are binding. Add this to a strong product range and first class service, it’s clear to see why our business is booming.
"GMAC Residential Funding is also calling on all lenders to stop wasting intermediaries’ time with old-fashioned DIPs which are about as relevant as the 19th century banking language they use” concluded Jeff Knight.