Resimac’s new solicitor partnerships support brokers with digital solutions

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Leading non-bank mortgage provider Resimac has enhanced its lending processes by leveraging new partnerships and adapting the latest technology to ensure brokers can continue to originate home loans without the need to meet with borrowers face-to-face. 

The enhancements are facilitated by its new panel solicitor partnerships, with MSA National and First Mortgage Services (FMS).

In the wake of COVID-19 movement restrictions and social distancing requirements, Resimac has approved the use of MSA National’s IDYou app enabling remote verification of identity. Furthermore it has authorised the use of digital signatures and is fine-tuning the implementation of a digital document delivery system. 

Resimac’s General Manager Distribution, Daniel Carde, said the changes make it easier for brokers to carry on ‘business as usual’, despite the COVID-19-related movement limitations.

“The change means a customer can now discuss their borrowing needs with a broker via phone, Skype or Zoom. The broker then completes their verification of identity remotely using the IDYou app and submits the loan for assessment in the normal manner.

“With mandatory social distancing in place, it is important we provide brokers access to the latest technology that is faster, secure and paperless,” he said.

“Thanks to our new panel solicitor arrangement, we are putting the final touches on a digital loan document solution that will see the loan document pack emailed directly to the borrower, ready for digital execution and return. Essentially this is completely paperless and includes the ability to upload property insurance and other related documents required for settlement,” added Carde.

MSA Managing Director, Sam Makhoul, said the firm was excited to be working with Resimac.

“We see this as a business partnership to support Resimac’s growth. We both have a similar vision to leverage digital solutions to transform the customer experience by doing away with paper, delays and unnecessary expense. 

“But we are both also committed to providing customers and brokers with an actual person to talk throughout the loan settlement process,” he said. 

FMS General Manager, Sales & Relationships, Chris Evans, said his firm would draw upon its local and international expertise to deliver Resimac customers a frictionless borrower journey from approval to settlement.

“We’re proud to be an innovation partner with Resimac to deliver paperless digital mortgage experiences to its customers,” he said.

The digital enhancements resulting from Resimac’s new partnerships with MSA National and FMS not only use technology to enhance the customer experience but provide brokers with real time status updates to track applications.

Mr Carde said Resimac was also supporting brokers by continuing to pay trail payments on those loans where a borrower had received approval for a repayment holiday due to COVID-19.

The non-bank lender has simplified the application process for borrowers seeking a payment moratorium due to financial hardship. Resimac has doubled the team size handling hardship applications and has launched an online hardship application form allowing customers to avoid phone line queues.

“These changes will also take pressure off brokers who are usually the first point of contact when a borrower experiences financial hardship and is seeking advice from their trusted adviser. Brokers are our small business customers and we believe in assisting customers when it becomes increasingly difficult for them to conduct normal business activities,” Mr Carde said.

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