Smart Move and Scorex deliver credit checked 15 second online mortgage decisions

This agreement will also give the Smart Move system the ability to overlay credit score cards from lenders which means fully credit checked, underwritten and credit scored decisions in seconds across a panel of lenders of choice. This makes the system particularly attractive to lenders, networks and intermediaries because it facilitates underwriting (rather

than sourcing) against a lender panel with fully researched results, in a matter of seconds.

Paul Griffin, Director, Smart Move comments, "Our software will benefit the whole mortgage market because it significantly speeds up the underwriting process, provides a real time 'decision in principal' and meets compliance requirements by proving research. I have not seen any web sites that allow you to get an AIP which is credit checked along with a virtual offer on-line, in seconds. Most merely give simplified loan calculators based on submitted client information with no independent verification."

The Smart Move system will allow clients to submit their name, postcode, lending requirements and income details. The system will then credit check and have the ability to apply a credit score, importing these details from the credit reference agencies. Results then show where the loan can be placed. Smart Move drills down to individual scheme level and reports

internally all passes and fails, useful information for product development as well as compliance issues.

Keith Hale, Associate Director, Scorex said, "We are delighted to be working with Smart Move. The opportunity for a system that effectively underwrites across the mortgage industry, or even a proportion such as the adverse credit industry, is immense. I believe that this system has the potential to be a 'must have' service for the mortgage industry."