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TSB rolls out mortgage application software to whole of market

  • 07/03/2018
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TSB rolls out mortgage application software to whole of market
The lender has rolled out Iress’ mortgage sales and origination (MSO) solution to the whole of the broker market, following an initial pilot phase.


Iress MSO, which has been marketed by TSB as Mortgage Pro, manages the full mortgage sales and originations process.

TSB said it adds efficiency by automating and digitising wherever possible, and has halved the time it takes TSB to arrive at a Decision in Principle (DIP) to 15 minutes.

A TSB spokesperson confirmed that there are currently around 9,000 brokers using the system, which has features including open integrations with third parties such as conveyancers and valuers to reduce errors and processing times, digitised document submission processes, and automated case tracking across different devices.

In addition, TSB is the first lender to sign up to the lender hub, an Iress tech platform that pre-populates client data from broker systems to lender systems through application programming interfaces (APIs), reducing the hassle of re-keying information to support agreements in principle and full mortgage applications.

However, the TSB spokesperson said it is currently uncertain when the lender hub capability will go live.


Rolling on

Mortgage Pro is currently available exclusively to brokers, but TSB will be opening the tech up to branch, telephone, and digital channels for direct to consumer propositions in a phased rollout.

Mark Wilson, head of strategic provider relations at Iress, also added that while TSB is the first to go live with the lender hub, the tech is compatible with any lender or broker systems to facilitate the pre-population function  – and not just Iress users.

Executive general manager, lending at Iress Paul Thorton said that Iress is currently engaged with other lenders who are interested in using both the lender hub capability and MSO.

Roland McCormack (pictured), TSB’s mortgage distribution director, said: “We’re continuing to invest in our service for brokers and their feedback was instrumental in the design of our new state-of-the-art mortgage sales platform.

“I’m delighted that our brokers and their clients are now experiencing the benefits of TSB Mortgage Pro, created in partnership with Iress’ technology platform, which has halved the time taken for a mortgage application from 30 minutes to 15 minutes.”

“When we launched TSB Intermediary three years ago, we said we would shake up the market and, as we celebrate our three year anniversary, we’re continuing to do just that”

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