Tanya Toumadj, CEO
Of all the changes that COVID-19 has brought to the world, the increasing volatility of the global financial system emerges to be the poignant one. Although federal governments have responded reasonably by bringing looser monetary policies and fiscal stimulus packages into the scene, most nations have witnessed a sharp decline in job losses. Under such extremities, it becomes more critical for mortgage advisers to accurately understand customer sentiments and help lenders make their mark in the constantly changing sellers’ market. And with Mortgage Broker Tools (MBT), in hindsight, the task of advisors no longer seems daunting. The company aims to provide a holistic platform featuring comprehensive, integrated research for both residential and buy-to-let (BTL).
“Our vision with Mortgage Broker Tools has always been to deliver the single most comprehensive research platform available to brokers,” says Tanya Toumadj, CEO, MBT. She comments that the MBT Research solution delivers lenders/brokers with a comprehensive and accurate affordability assessment, leading to more ‘right first time’ AIP decisions. The robust solution saves mortgage advisers time by reducing the cumbersome form-filling and paperwork and allowing them to focus more on their prime task of advising people. MBT enables advisers to do fast, accurate, and comprehensive affordability research that lets lenders better understand and monitor the affordability differences with their competitors.
To answer the question of how MBT works, let us delve deeper into its stellar tools. The MBT research platform eradicates multiple form filling procedures and instead brings one carefully designed application encompassing all the minute details required for mortgage/lending purposes.
It helps advisers select texts for sections and individual fields and collects all relevant data needed to run lender calculators wholly and accurately. In addition, an adviser can now customise their contents table to see research results based on their preference.
Besides, it even allows advisers to make necessary changes and re-run cases, thereby making the process highly flexible. In an attempt to make its platform more seamless, MBT has breathed in Google search bar features into its platform. This gives smart search capability to customers and brings to them criteria-based search that can quickly identify lenders by scrutinising through the multiple (over 100) integrated lenders PDFs. In under 60 seconds, the product generates accurate lenders listing relevant lenders on one page.
In addition to its platform, the company brings to the table MBT Affordability Index that tracks and measures aggregated market affordability results over time to provide data-driven insights into affordability trends within the mortgage market. It gives brokers and lenders with an up-to-date and accurate synopsis of lender affordability calculation and helps them realise the distribution of loan sizes available over a range of different circumstances. At an interval of 30 days periodically, the index reveals the spread between average loan amount request and the highest and lowest results generated from more than 40 lenders for the same case. The reports are then categorised into segment groups, namely First Time Buyer, Re-mortgage, and Home Mover, to help advisers choose according to their preference and comfort of working.
Through this, mortgage advisers briefly overview the market scenario and conduct affordability calculations that open room for cementing the borrower profiles variation. To that end, the London-based firm also gives an upgraded snapshot of the percentage of cases highlighting the number of lenders on the MBT panel who have met the loan amounts requested by the broker. Not only does this maintains transparency among processes, but it also expands the panel of lenders available for brokers to refer to. “With all of these elements on one platform, brokers can base their research priorities on the individual needs of their client, and carry out a comprehensive search of all the available options within a matter of minutes,” concludes the CEO.