For applications that are fully completed, with all supporting documentation, Genesis has set up a dedicated team to ensure that they are processed, referenced and provided to the FSA as soon as possible.
Key elements of the fast-track process include a team of specialist staff who will go to the broker’s office to assist them with completion of the necessary documentation; forms hand-delivered to the compliance department where the fast-track application team takes over; faxing and couriering reference requests with a 24-hour follow up ensuring responses are received in the fastest time possible.
When the application process is completed an AR contract will be hand-delivered to the broker for signature and the FSA immediately advised of the appointment.
Genesis said this process continues after completion of all documentation, with a full training programme of courses in late October to manage brokers through competency sign-off before ‘Mortgage Day’.
Frank Thurlby, head of compliance at Genesis, said: “By introducing this service we are ensuring that intermediaries have the best possible chance of being authorised by ‘Mortgage Day’. While the turn around of approved person status lies with the FSA we want to ensure that AR applications are dealt with in the quickest possible time.”
But Kevin Morgan, managing director of Consilium, said: “If they are saying it’s fast-track, what was it before. Slow track? All these added services come at a cost. All brokers want is a competent administration process with decent turnaround times.”
