Qualtix developers have, over the years, developed long-standing relationships with a number of providers in the Commercial Mortgage marketplace.
Our first step with any new system is to sit down with the client and work out exactly what their requirements are. Every system is different, because each institution uses its own specific procedures, but the systems share a common core of requirements.
At the pre-underwriting stage, the systems typically capture information about
The information recorded is used to produce the application, which can then be underwritten. The underwriters can approve the application as is, amend the application (for example by requesting further security or adding further conditions) or reject it. Because the information has been captured as part of the application process, the letter of offer can be produced very quickly and easily; more importantly, it will automatically reflect the content of the application, as approved by the underwriters.
From this point, the system can manage the process through to payout. Solicitors and valuers can be instructed; the results of their work can be recorded against the application and, once satisfactory valuations have been received, all securities have been taken and all conditions have been met, the money can be paid out. If the application does not proceed to payout, the reasons can be recorded for later analysis.
The information stored for the application can be further used to manage the mortgage during its lifetime; reviews can be carried out and the current state of the loan assessed.
As a bonus, the information recorded as part of the underwriting process is available for reporting and analysis purposes.
As well as any predefined reports that have been provided, standard reporting tools can be used to query the data.
Although we have talked about the commonality of requirements for systems in this area, we understand fully that each client has specific requirements that can only be met by a system that is designed for their specific way of working. Our systems are unique to each of our clients, building on our knowledge of the subject area.
If you feel that a well targetted computer system could help your business then please contact us for further information.