NextGen.Net has attempted to make life easier for brokers with the launch of new resubmission capabilities for its online mortgage tool.
ApplyOnline Resubmission allows the broker to amend details of a previously submitted application, review a summary of changes on screen and submit the amended details to the lender.
The company’s sales director, Tony Carn, said the new enhancement to its ApplyOnline system solves “a real industry problem” – loan details are often changed by the broker post-submission, but are rarely tracked effectively by both the lender and the broker.
The company said the product improvement will result in less application errors, faster approval times and greater confidence that the changes are being received by the lender in a timely manner.
It will also ensure that changed applications will always reflect what is finally approved by the lender.
“This is a simple but significant change in the way ApplyOnline is being better utilised by lenders and brokers,” Mr Carn said.
“We’ve obtained valuable input and feedback from our aggregator customers prior to formalising this functionality.
“The broker groups we engaged have applauded ApplyOnline Resubmission and believe it will become the industry norm sooner rather than later.”
CBA and St George will be the first two lenders to offer the new resubmission capabilities.
[Related: Training boosted for online mortgage tool]
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