First National Mortgage Company (FNMC), formally HMC has launched a new website following its rebranding under the First National name, writes Rachel Williams.
The new site will have considerably more functionality than the HMC site and should make it easier for intermediaries to conduct business with the lender, said Ron Howell, sales director at FNMC.
He said: “The site will contain details of our new and revised products as well as our terms of business. But, in addition it will have case-tracking for all of our key-accounts.”
This will provide intermediaries with updates on the progress of each case that has been submitted, for example providing details on when funds will be released or providing reasons why a case may have been held up.
Further developments are anticipated in the coming months.
Howell said: “By the end of November we will also be offering an electronic decision in principle facility. The intermediary will have to input their client’s details send it to us via the site and within seconds we can let the intermediary know whether to submit the application and which product the borrower is most suited to. For example if the intermediary applies for a sub-prime product and the borrower suits a standard product we will recommend the standard deal.”
However it will not underwrite or credit-score the applicant online.
He added: “By the end of the year we are also hoping to offer online applications and during the first quarter of next year we will be able to offer instant product updates to all our users via e-mail, for example when we launch new deals or change our interest rates.”
The site will also provide the name of the underwriter dealing with the case to improve the communications process between the lender and the intermediary as well as key dates such as the anticipated completion date.
Howell said he expected the site to be popular as it helps intermediaries operate more efficiently.
The site will not be confined to intermediaries and certain areas of the site will be available to potential borrowers as an additional source of information on the lender and its products.
l FNMC has launched an updated product range and relaxed its underwriting as part of itsrebranding. See product round-up on pages 17-18 for further details.