In partnership with software supplier Phoebus Software Limited, Oakwood has built a new fully integrated origination system that provides seamless management of a mortgage through the entire life cycle of a loan.
Oakwood’s proprietary work flow management technology interfaces with the core Phoebus system at each stage of the life cycle to provide enhanced, rapidly configurable management of product development and process change requirements.
Oakwood partner Richard Klemmer explained: “The addition of this new capability complements our existing service offering and extends our reach into the pre-completion origination phase of the mortgage process.
"Our origination platform has the ability, on a fully white labelled basis, to provide a compliant, highly efficient and cost effective origination tool fit for the requirements of the current regulatory landscape."
The system provides:
• Key Facts Illustrations (KFI)
• Decision in Principle (DIP)
• Web enabled point of sale functionality
• Full Mortgage Application (FMA)
• Online Case tracking
• Mortgage Offer
• Rules based product and underwriting configurability
• Ability to utilise AVM for more reliable initial estimate of property value
• In-built affordability assessments
Paul Hunt, managing director of Phoebus Software said, “I am very proud that it only took Phoebus three months to the deliver Oakwood’s origination system. This was thanks to our director Keith Rogers who led the project and – with twenty seven years industry experience with Phoebus, GE Money, and HBOS – was able to bring our consultancy skills, as well as our IT expertise, to bear. And secondly, Phoebus had already installed Oakwood’s servicing platform. The flexibility of the existing software we’d installed meant it was relatively easy to integrate it with the new origination platform.”
