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The non-bank lender has provided accredited brokers with two new digital tools to help streamline the home loan application process.
The two new digital tools within the NextGen ApplyOnline platform, “Access Seeker” and “NextGenID”, are designed to help improve the time to decision and quality of applications.
The Access Seeker credit report service (part of the ApplyOnline ‘financial passport’) provides brokers with the ability to request comprehensive credit reports for their clients directly from ApplyOnline without leaving a credit inquiry footprint on the file.
According to Resimac, this functionality is useful for credit-impaired borrowers because it facilitates a conversation with their broker where they are able to explain any defaults before the submission.
A soon-to-be-launched update to the service will show Resimac whether liabilities have been verified by an Access Seeker credit report, which will assist in fast-tracking application assessments and result in faster decision times.
In addition, the update will allow brokers to review, compare, and reconcile the report against borrower-declared applications.
Furthermore, the addition of digital verification of identity (VOI) service NextGenID simplified and automated the process of verifying the identity of clients, according to the non-bank lender.
Brokers are able to send a request to a client to collect their identification requirements as part of the ApplyOnline application.
Resimac general manager distribution Chris Paterson said NextGen was instrumental to Resimac’s “ongoing efforts to refine and improve its loan origination process”.
“We are always looking for ways we can help our broker partners and make it easier for them to settle loans with Resimac,” Mr Paterson said.
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“We’re grateful to NextGen for enabling us to provide more digital tools that help brokers provide a better service to their clients.”
Tony Carn, NextGen chief customer officer, said the team was excited about helping Resimac expand its digital services to brokers.
“As an industry, we’ve come an incredibly long way from the piles of paperwork and myriad manual processes that used to be required for a home loan application,” Mr Carn said.
“At NextGen, we’re always pushing the envelope of what’s possible when it comes to digitising mortgage applications, and we’re thrilled to continue this journey with Resimac.”
New hires strengthen broker support
In an effort to bolster support for brokers, Resimac hired two business development managers (BDM) — Stefanie O'Connell and Craig Platt — and new head of lending Adam Daniels in mid-February 2023.
[RELATED: Resimac strengthens brokers support with new hires]
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