Marlborough Stirling launches mortgage consultancy service

Source: Marlborough Stirling

Marlborough Stirling, the outsourcing and solution provider, today announces a new mortgage consultancy service that will enable lenders to gauge the efficiency of their operations and generate potential cost savings up to £300,000 per annum.

The new mortgage process consultancy service gives lenders an independent and objective review of their mortgage application and processing operations without having to distract their senior staff from their crucial role of running the business. The output of the review will detail the time and cost savings that can be derived from more efficient and effective business processes.

There are a number of levels to the consultancy service to suit differing business needs. Lenders can either opt for a full review of their entire mortgage process or review individual process areas such as point-of-sale, application processing, servicing, arrears and repossessions, complaints or customer service. The service can also address topics such as customer retention analysis, quality checking and assessment of forms and documents. As an introduction lenders can opt for a high-level health check to determine areas where a more comprehensive review may be needed.

This service is offered and conducted by Marlborough Stirling's mortgage consultants who have a wealth of expertise and practical experience in the mortgage market. Marlborough Stirling's annual mortgage benchmarking study, developed in consultation with the Council of Mortgage Lenders, has given these consultants an in depth knowledge of where lenders’ main processing issues lie. The output of the reviews can include new business models and definitions of service, which can be documented for ongoing use by the lender.

Phil Heaton-Jones, director product development, comments: "In order to ensure compliance with mortgage regulation many lenders have had to hastily adopt inefficient manual processes and system workarounds. While this approach may satisfy the FSA it has adversely affected lenders' bottom lines. As the M-day furor settles down, now is the time for lenders to measure the increased costs involved in these processes and find ways of eliminating them."

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