Mortgage technology solutions provider Twenty7Tec has developed an in-house mortgage criteria sourcing solution, delivered on one single platform.
The platform supports free format text criteria searches and the production of evidence of research documentation.
It is currently being trialled by a number of leading mortgage intermediary firms, ahead of a wider roll-out in June.
Once the full roll-out is complete, all 13,000 users of SOURCE, Twenty7Tec’s product sourcing system, will be able to search both product and lender criteria from the company’s CloudTwenty7 platform.
Twenty7Tec will make access to its new criteria search functionality free of charge to all users of SOURCE until the end of 2021, as a show of support for the industry as it faces the COVID-19 crisis.
James Tucker, CEO of Twenty7Tec, said: “Bringing both product and criteria searching onto one single platform, and enabling advisers to use one single set of client data for both, has been a long held ambition of ours and I am delighted that we have begun now to roll this out to our users.
“With the addition of this new criteria search functionality to SOURCE, alongside our integration with Mortgage Broker Tools for affordability calculations, we continue to deliver on our primary goal as a business – to develop technology that makes the process of searching, applying for, and obtaining a mortgage simpler, faster and more efficient.”
David Lawson-Shah, director of risk, compliance and technology, at Alexander Hall, added: “With lenders’ criteria changing on a daily basis, advisers are needing to spend more time keeping up to date with these changes, taking valuable time away from talking to clients.
‘The combined criteria and sourcing solution helps to resolve this.
“Well done Twenty7Tec for helping intermediaries take a big step in the right direction.”