Powered by MOMENTUM MEDIA
the adviser logo
Broker

Brokers to offer same-day home loans

by Huntley Mitchell4 minute read
Tablet

The ability for brokers to offer same-day home loans is set to become a reality thanks to banks’ adoption of a global e-signature platform.

DocuSign is an online program and mobile device app that allows businesses to securely sign documents electronically and send documents for electronic signature in just minutes.

Speaking to The Adviser, DocuSign’s vice president and managing director for Australia and New Zealand, Brad Newton, said the company is currently working “with most of the banks” to help them provide same-day mortgages.

“The banks have got a massive rush going on at the moment to digitise processes and disrupt the market,” he said.

Advertisement
Advertisement

“They all want to go to the market and say ‘Hey, we are the first bank to deliver on same-day home loans. You need to be a customer of ours because we can make it easy, convenient and fast for you to get a home loan’.”

With the help of DocuSign, Mr Newton said many banks will be going to market with this offering in the near future, and will be looking to work with brokers and aggregators to help deliver it.

“Banks want to attract new brokers, and the way that they do that is by making it faster, easier and more convenient to do business with them — DocuSign’s technology is a key piece of the puzzle to facilitate that,” he said.

“If banks can approve a home loan in one day and take weeks out of the process, brokers will prefer that every time.

“The banks aren’t trying to compete with brokers — they’re simply trying to speed the home loan process up, make it more convenient, and reduce costs.”

DocuSign recently partnered with lead generation platform HashChing, as well as e-conveyancing platform Rundl and Connective.

[Related: Platform to accelerate and simplify loan doc process]

tablet  x

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

PhilipLowe mb

RBA attempts to curb runaway inflation

On Tuesday (5 July) the Reserve Bank of Australia (RBA) announced at its monetary policy meeting it will increase the...

READ MORE
flood qld suburbs ta

Home loan support offered to NSW flood victims

Widespread persistent heavy rain over large swathes of NSW over the weekend and into Monday (4 July) has caused major...

READ MORE
Dr Jane Rennie CPA

Accountants to decline ‘capacity to repay’ requests

The leaders of CPA Australia, the Institute of Public Accountants (IPA), and the Chartered Accountants Australia and...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more