Trigold is to offer and promote Mortgage 2000's Casemaster software to its users, despite concerns raised by packagers.
The Casemaster web-based system, launched less than six months ago, is designed to enable intermediaries to process mortgage applications from submission to offer stage, including instructing references, and controlling the timing of valuations. The platform also guides intermediaries through the underwriting process from credit search to offer using guides tailored to individual lender's requirements.
Bill Saffran, chief executive of Trigold says there are undoubtedly Trigold users who want to process their own cases and would benefit from a system to support such actions. “By offering links to Casemaster we are building on our new value-added services such as ENC and the Prospector AAA integration with Microsoft Outlook.We’re delighted to be working alongside Mortgage 2000 proving once again that the market should be open and inclusive and not restrictive and monopolistic.”
But packagers warn Trigold risks endangering a source of significant revenue if it promotes the Casemaster platform too heavily despite the fact that the platform’s affect on packagers’ business has so far been minimal.
Vic Jannels, director at the Professional Mortgage Packagers Association (PMPA), says he would like to know why Trigold has chosen to promote the Casemaster system. “I don’t know what Trigold is trying to achieve by doing this because were this platform to have a significant impact on the levels of business packagers do then many may take the view that this is unreasonable and look to set up their own sourcing system. Also does Trigold assume many brokers want to package their own business? Doing so is very labour intensive and will lead to brokers missing out on the exclusives offered by packagers as well,” he says.
But Sean Hornsby, managing director at Mortgage 2000, has defended the platforms move onto Trigold saying it frees users from being reliant on the opening hours or service standards of packagers and lenders.
Hornsby is also positive about the prospect of working with Trigold despite being a direct competitor of the sourcing system. “I’m sure Trigold will make a significant contribution to the growth of the Casemaster system. This is an example of co-operation between two companies to the benefit of not only each other but also the industry as a whole and it shows that given the right circumstances even competitors can work together,” he says
Trigold users will be able to register for Casemaster through the dedicated link on the Trigold system and book their place on one of the Casemaster training sessions that have been arranged to coincide with the launch. The system is currently supported by 20 lenders, including Mortgage Express, Bristol & West, Kensington, GMAC-RFC, Platform and Royal Bank of Scotland.IFAonline
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