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Mortgage Pro fills the gap in sub-prime sourcing market

  • 21/10/2002
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A new sourcing system, Mortgage Pro, is to be released to the intermediary market in mid-November. I...

A new sourcing system, Mortgage Pro, is to be released to the intermediary market in mid-November. Initially, the system will be aimed at the sub-prime market, currently without a dedicated sourcing system. Mortgage Pro will also include the lending panel of packager and system designer, Homebank.

Mortgage Pro was initially designed for use solely by Homebank’s internal sales force. Prior to its release, both the tied force and volunteer intermediary firms have had the package under test. This has led to several generic functions being added to the system. Brokers’ name and company details along with any financial parameters, such as fees, are automatically populated on all relevant forms.

Data accuracy will be guaranteed by the lenders having access to the system. George Dodds, managing director of Homebank, explained: ‘We give the lenders an update disk, so they can update their own products. We then check no errors have been added, and next time the broker presses their update button, it will load up on to the search engine.’

Homebank is also in talks with both Trigold and Mortgage Brain over sharing their trading platforms. Dodds said: ‘It seems ridiculous there are so many platforms fighting with each other. We do not see the point of entering the arena with yet another platform and are happy to connect to the individual lender’s platforms, if they exist. If there is a platform that is ready then we want to be part of the team.’

Mortgage Pro has already signed an agreement with Britannic Money. Brokers using the search engine will deal directly with Britannic Money’s system.

Early next year, Mortgage Pro will also be releasing call centre software for brokers. Intermediaries sourcing their leads from outbound calls will have client details taken down by the call centre. These details will then go online to the broker who will follow up the lead and fully populate Mortgage Pro. This software is being used at the moment by Homebank’s internal sales force.

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