DB mortgages is commencing its broader rollout to the full packager market by increasing distribution, it has announced today.
In April 2006, the lender began a pilot scheme with three packagers designed to test its systems in a live environment. The broader rollout from three to 20 registered packagers is the start of second phase of db mortgages’ expansion into the packager market.
An online decision in principle facility, to be called Online Decision, will be available for all pre–registered packaging firms on a phased basis from the beginning of this month.
The lender says this will combine the benefits of automatic accepts, with manual underwriting. It says online application and case tracking will follow later in the year while packaging agreements are being set up along with website user registrations for the db mortgages website.
Mark Bergin, director of sales and marketing at db mortgages says: “This phase of our roll out strategy to more packagers reinforces our belief that this is a valuable distribution channel. We are especially pleased with the support from the packager community as more than 70 contracts have already been signed and returned to us.”
Bergin says further system developments are planned for later in the year to enable online applications, key facts illustrations and case tracking.
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