The system is called "PackageStream" and is based upon the popular MortgageStream Case Management Software although it has a number of unique features designed specifically with mortgage packagers in mind.
Not only will the new system allow a packager to manage and control the workflow associated with processing packaged mortgage cases but also the system has been designed to interface with the Brokers own copy of MortgageStream via a “briefcase” e-courier facility.
Paul Holden, sales director at MortgageStream said; “The Packager sector has witnessed unprecedented growth over recent years and we’re delighted to unveil this new system which supports this integral part of many brokers’ mortgage application process. By using the 'briefcase' facility introducing mortgage brokers can send a case from their own MortgageStream system directly to the packager in less than 30 seconds via regular e-mail. In this way cases arrive at the packager’s e-mail inbox and are imported into PackageStream with one mouse click.
“In addition the briefcase imports all support documentation, Applications, KFI, IDD, Proof of ID & Residence, file notes, client, solicitor, estate agent and valuer contact details plus of course the lender and product information relating to the application.”
Linda Mamedy, managing director of Complete Mortgage & Loans (Surrey) said: “As a franchise member of CMLS we have seen the market for packaging really take off in the last few years and have been searching for the right solution for our mortgage processing centre in Kingston and for our Satellite Packagers. Over the last three years we have noticed the number of our Brokers using MortgageStream rise dramatically, so we were really pleased when the new version was released to Packagers.
“We have been evaluating the system and now rely one hundred percent on the PackageStream workflow for our underwriting and case processing. Brokers have started sending cases to us electronically; this saves both us and them time, and avoids the issues associated with all of the recent postal strikes. Our brokers have already noticed an improvement in turnaround times and the availability of our regular update reports sent to them from the system.”
