Technology is playing an increasingly important role in the home-loan application process, says Bond Choice, announcing a joint venture agreement with SA`s biggest independent estate agency group, Homenet.
Bond Choice MD Mark Beckett says technology is especially important in the credit scoring and property evaluation stages, which is why the company has placed such emphasis on creating a high-capacity IT infrastructure.
Bond Choice was launched last year and has national representation, originating on behalf of Absa, FNB HomeLoans, Nedcor, Standard Bank and BoE Private Bank.
The group has also taken its services to the Internet, with an announcement yesterday that it had appointed Comcorp as its technology partner.
In terms of its latest deal, Bond Choice will become the exclusive supplier of mortgage origination services to all 145 Homenet offices around the country.
Homenet chairman Robert Ketjen says the agreement will put Homenet in a position to meet new bank criteria in mortgage origination.
"Supplying a simple lead to a bank is no longer enough. To qualify for the full benefits associated with origination, we must add value by handling more of the 'front-end` processing of each application," he says.
"These requirements will be much easier for us to fulfil in partnership with Bond Choice, with its large national distribution network, 100 bank-trained home loan consultants and its access to huge IT resources."
Homenet offices sold more than 18 000 homes in the past two years, worth a total of about R6 billion.
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