Jeff Knight, Head of Marketing at GMAC-RFC, said: "The reaction to the new system is fantastic. We attribute this success to the fact that our unique online system is offering the best service - and the mass appeal of being able to offer binding decisions."
GMAC-RFC's online system differs from others which only offer online DIPs and tracking; these seem significantly outdated now in comparison with binding decisions on the spot which cut out paperwork, uncertainty and delays.
Knight continued: "You'd expect that our system would appeal to non-conforming business, but we have seen the biggest increase in decisions across our mainstream, self cert and buy to let products."
Key points to GMAC-RFC's online system include:
* The case is instantly credit scored, rated and underwritten, giving the broker and the client a sense of satisfaction.
* Binding decisions: where you can be sure that what has been agreed will stand.
* Even if a client is declined on one product, they can still be accepted on a different product - an further example of GMAC-RFC's 'mortgages for everyone' philosophy.
* Brokers can resubmit without a footprint, up to four times, applying for alternative products.
* Reduced packaging requirements, enabling brokers to get cases to the offer stage much more quickly.
