Now, when a packager or intermediary proceeds to an on-line offer, all that may be required on cases is a fully completed and signed Direct Debit mandate.
When completing the application data, brokers would previously have had to print the declaration form, ask a client to read and sign it then send it back to GMAC-RFC. With the new process, the broker simply reads out the 'Important Applicant Information' to their client from their computer screen then clicks the 'confirm' button.
This move has come about following feedback from the market.
Jeff Knight, director of marketing, GMAC-RFC, said: “When it comes to technology, we do not use technology for technology’s sake. We listen to what our customers - brokers and packagers - are saying and respond accordingly. We did so when we were the first to provide on-line binding decisions which gave greater certainty. We did so with cascade, giving more flexibility. We did so when we were the first to provide point of sale mortgage offers, giving greater speed. And we have done so now by making our system much slicker and easier to use. All of this enhances the reputation of brokers and packagers and saves them time and money.”
