ComplianceStream™ gives larger firms advanced management of lead sources, sales, compliance auditing, TCF reporting and complaints handling. The central system also monitors critical areas of FSA focus such as “lending into retirement”, “loans without repayment vehicle” as well as a host of other vital TCF “steps and checks”.
Kevin Duffy, managing director of Mortgageforce commented: “Compliance is a top priority for mortgage firms in 2009. In light of this we undertook a rigorous selection process incorporating feedback from our Franchisee member firms, some of whom have been using MortgageStream themselves since 2005. The result of this was unequivocal support for the MortgageStream systems, which we are providing across our national network of Franchisees. We will provide firms with the best tools to satisfy their accounting and marketing needs and comply with the regulator’s requirements, whilst simplifying TCF, case processing for mortgages and insurance, fee reconciliation, compliance, reporting and management information.
“MortgageStream gives brokers power over their day to day case management, increasing efficiency and business opportunities for our locally based Franchisees. Communicating that information to the ComplianceStream central system at head office will, allows us to monitor files, manage our income and understand transactions far more quickly and efficiently.”
Paul Holden, Sales Director at MortgageStream™ commented, “We’re obviously delighted to have been chosen as the exclusive back office and compliance provider for Mortgageforce. We have been providing our core MortgageStream™ software directly to a number of Mortgageforce Franchisees; so the decision at Derby to include all Franchisees and head office staff is a tremendous endorsement of both MortgageStream™ and the new ComplianceStream™ system and demonstrates the cost and time benefits that can be realised for firms using a centralised system. In the past compliance monitoring has tended to be compartmentalised, however lighter-touch remote monitoring allows central compliance staff to see what has been happening before, during and after the sale has taken place and offers a raft of benefits for both the
Mortgage broker, Stuart Bryce said: “MortgageStream is without question the best investment we have made in our business; having used it for some time we know that we would not have achieved the increased efficiency and business levels without MortgageStream. Even in this downturn in the market, using the “Gap Analysis” tools enables us to continue to write business that otherwise may have been overlooked, we would not hesitate in recommending it to other firms.”
