Combined with the ability to submit electronic mortgage applications via its electronic trading platform, the Mortgage Trading Exchange (MTE), aApplications for the core products of all KGB’s packaged lenders can also be submitted electronically via MTE. The availability of electronic applications is a new component in KGB Packaging’s overall IT offering to brokers, branded as the “eLIMINATE” system.
Mortgage Brain’s sourcing system and the Mortgage Trading Exchange are now able to include packagers among their product providers combined with electronic submission, and KGB packaging is amongst the first packagers to take advantage of this new opportunity.
Rachel Bancroft, KGB Packaging’s managing director, commented: “KGB’s inclusion on the supplier panel of Mortgage Brain is one of the first steps in investing in our strategy of being among the leaders in the packaging sector to offer a full service electronic solution to brokers. We know that brokers value the ability to use Mortgage Brain’s product sourcing facility off-line – for example when visiting customers in their homes – and then being able to save all the customer information from the fact find to pre-populate and submit applications electronically. This gives brokers access to very fast lender responses and enables them to offer top rate service to the customer without wasting time having to re-key lots of details.
"We felt it was important to make electronic access to KGB’s packaging service as widely available as possible, and our Mortgage Brain arrangement has allowed us to connect with its 26,000 plus users, and those that submit applications electronically via the mte, which represents around 15-20 per cent of all mortgage transactions placed by intermediaries.”
Mark Lofthouse, CEO of Mortgage Brain and MTE said: “KGB is in the vanguard of packagers that understand how important it will be in future to offer access to its products and services in choice of online (via KGB’s own website) and offline (via Mortgage Brain). MTE is also available as a stand-alone service, so it is an electronic trading solution that includes virtually every broker firm who subscribes to an electronic sourcing system.
“We look forward to a very worthwhile and rewarding business partnership with KGB, which will bring considerable benefits to brokers in terms of reducing the time spent on re-keying information and better service. In addition, the MTE gives brokers access to (currently) 26 different lenders all on one site, instead of continually entering different log-ins and passwords, and this also helps to cut out tedious, time consuming and unnecessary processes.”
