The system is designed to manage a mortgage through the life of the loan, from point of sale to redemption by the borrower, or property management and disposition, and shortfall recovery.
It provides KFIs, DIPs, point of sale functionality, full mortgage application and online case tracing, mortgage offers, product and underwriting configurability, ability to use AVMs and inbuilt affordability assessments.
Oakwood’s work flow management technology will interface with Phoebus’ system at each stage of the life cycle to manage product development and process changes.
Richard Klemmer, partner at Oakwood, said: “The addition of this new capability complements our existing service offering and extends our reach into the pre-completion origination phase of the mortgage process.
“Our origination platform has the ability, on a fully white labelled basis, to provide a compliant, highly efficient and cost effective origination tool fit for the requirements of the current regulatory landscape.”
