The One Mortgage System includes Application Programming Interface (API) technology to allow straight-through connectivity with lender systems to pre-populate data from client records.
It also has direct connection with automated valuation models (AVMs) to allow brokers to see the likely value of a client’s property before submitting an application.
Mortgage Solutions understands it is the first system to go live with full two-way communication between brokers and lenders. It is launching this enabled with Shawbrook’s first charge range and all of Together product range.
Three more lenders are expected to be added to the full API-integration early in the New Year.
However, for other lenders whose systems are not API-ready yet it will pre-populate pdf application and submission forms – with 150 available at present.
Phase one development
The system, which sources products through a built-in Twenty7Tec solution, has been developed by the All Types of Mortgages (AToM) brokerage and after a pilot scheme, has gone live with 3,224 advisers registered to use it.
It allows a full and integrated factfind, forms to be sent and received via the broker’s website, and the upload of applications and documents.
AToM managing director Dale Jannels said the software company had now been separated as a commercial entity from the brokerage firm.
He added that this was only phase one of the system’s development.
“We’re already saving brokers around two hours per case with the system,” he said.
“The AVM plugin will allow brokers to get a good idea what the value of the property is.
“Early in the year we will be enhancing what we already have,” he added.
One Mortgage System IT manager Connor Jennings said the platform would provide a joined-up client and case journey, while removing paperwork duplication.
“OMS integrates the key milestones of the lending process and all with no rekeying of data, even when there is a lender change,” he said.
“With all customer data securely stored in the cloud, users can also be confident that they will more easily comply with the upcoming General Data Protection Regulation (GDPR) requirements on the way that client data is stored and accessed.”
He added that it could free up more time to be talk to clients while also assisting compliance and client data storage requirements.
As Mortgage Solutions revealed earlier this month, Bluestone launched its first lender API-integration with a broker CRM system.