GMAC-RFC has today announced it will adopt Trigold's Fast Track filter technology to give enhanced certainty to brokers and packagers when sourcing funding.
GMAC-RFC says the filter, in conjunction with its own credit checking systems, will ensure no fraudulent transactions are accepted, a common problem with fast tracking systems. The Fast Track system will allow brokers to submit applications with no documentary income evidence and uses telephone verification to confirm income. A select sample of applicants will be required to provide full income documents, while those needing loans of over £500,000 will also need to provide full documentary evidence. GMAC-RFC says the system can also be combined with Enhanced Non Conforming filters t...
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