LenderQuote launches loan sourcing platform

Nia Williams

November 15, 2011

The technology will be of particular interest to lenders wishing to improve their intermediary facing platform as well as brokers wishing to cut costs from the secured loan process with full point of sale quoting, faster processes and less reliance on highly paid underwriters, according to the company.

Steve Walker, spokesman for LenderQuote, said: “Our technology has been tried and tested over the last five years and is recognised as best in class by those who use it. Over 10,000 intermediaries have registered to use the introducer version through Promise Solutions and its partners.

“For packaging loan brokers LenderQuote can provide a complete underwriting and sales platform with integrated credit search decisioning and lender document production.

“Also included are the loan refinement guides which help brokers identify alternative offers plus the comparison records to demonstrate why a particular product was offered.

“We know demand is returning for our technology as we have been approached by numerous brokers who are unhappy with their current arrangements.

“We are now planning enhancements to cater for income and affordability checks across all lenders and to provide a complete end-to-end processing system.”

The lender version allows first and second charge lenders to manage introducers, view introducer applications, join the broker online to discuss referrals and print product specific documents.

Another benefit, particularly for second charge lenders, is that they can better manage tranches of funding as they can see which products are being sourced and the volume of business generated on each plan with records of each agreement generated.

Introducers to the lender can also benefit from a detailed rules engine and quoting platform, including referral rules with integrated access to the lenders credit search where applicable or credit scoring in the background.

Walker added: “There are many more features too numerous to mention but the system is highly configurable, online and available as a hosted solution so the internal IT costs for our partners are minimal.

“We are confident that LenderQuote will provide a more complete and more cost effective solution for lenders and brokers wishing to benefit from the efficiencies and USPs the technology can offer, particularly when building an effective loan telesales team.

“Smaller lenders will now be able to offer services similar to the leading lender intermediary platforms but at a fraction of the cost.”

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