Resimac introduces new loan submission process

The process removes the need to manually enter vast amounts of data

Resimac introduces new loan submission process

Non-bank lender Resimac has revised its loan submission process, making it easier for partner advisers to submit their mortgage applications.

Advisers will no longer need to type information into Resimac’s loan submission system, RESIQ, but can instead send completed mortgage application forms, diary notes, servicing calculations, fee forms and supplementary documentation to [email protected]. Resimac’s application administration team will then submit the information into the system.

Resimac says this new system will remove the need for ‘time-consuming’ data entry on the part of advisers. It is the latest in an ongoing push from the financial services sector to modernise its systems and eliminate the need for manual data entry, something which has historically taken up a significant chunk of mortgage adviser time.

Resimac Head of New Zealand Luke Jackson said that the change had been made in response to adviser feedback, and is part of an ongoing effort to streamline the user experience. He says Resimac has also made a number of other pricing and policy-related changes over the last few months which will also benefit its adviser partners.

“As well as sharpening our pricing twice over the past two and a half months and refining our credit policy to meet borrower needs, we are delighted to have enhanced our processes to look after the interests of our adviser partners,” Jackson commented.

Resimac has been growing steadily over the past several months, with Jackson having taken over the New Zealand branch in May. It also strengthened its underwriting team the hire of a new senior underwriter that same month.

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