Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Dudley Building Society Opens Cloud-Based Mortgage Platform to All Brokers
Dudley Building Society has opened its mortgage origination platform to all brokers, following a phased launch earlier this year. The cloud-based system is designed to improve the broker experience by reducing administration, speeding up processes, and providing greater visibility throughout the mortgage journey.
The platform was developed in partnership with Ohpen and shaped by feedback from intermediaries. A key aim of the new technology was to reduce paperwork, with only the mortgage deed now requiring a signature. Brokers can access real-time case updates and documents directly through the system.
According to Dudley, early feedback from its underwriters indicates that the platform is saving time and enabling quicker decisions. For example, a referred decision in principle that previously took around 45 minutes to review can now be assessed in as little as three minutes.
Further enhancements to the platform are planned, including integration with brokers’ own software and sourcing platforms. Dudley says the new system is intended to remove friction from the process and make case management more straightforward for brokers.
Feedback from brokers has highlighted the benefits of having a clearer view of case progress, real-time updates, and a reduction in administrative tasks. The platform aims to simplify case management and keep all parties informed throughout the mortgage process.
This development may be of interest to UK letting agents and inventory clerks who work closely with brokers and require efficient, transparent processes for property transactions.
Source: Mortgage Strategy