Spend more time writing new loans
Enable your loan writers, customer service and credit support staff to be more productive and efficient, with a broker support solution designed for originators like you.
Loan originator margins are increasingly squeezed, dealing with compliance requirements, labour costs, and a tighter market. Efficiency is more important than ever.
But back end processes can take time that would be better spent writing more loans and growing your business.
You need someone to provide the right support
Loanworks provides outsourcing services that support originators throughout the sales, loan processing and customer service lifecycle of a loan transaction.
That allows you to operate in the current climate while still achieving:
- A more profitable business, and the opportunity to invest in opening up sales channels
- Greater efficiency in sales, loans processing and customer service in order to reduce cost of service
- A high standard customer experience
- Peace of mind, knowing that customer data is securely handled in line with ASIC, APRA and Privacy Act requirements
- Reduced workload and a better work/life balance
Outsourcing some or all of your administration needs is the obvious way to create more time for yourself, and provide more support for your other business functions.
Time-saving broker support from the industry’s leaders
Administrative work can feel like a never-ending task, spreading out across all areas of your business.
Loanworks breaks it down into four manageable components. And we can handle all of them, or as many as you need.
Broker support
Streamline the sales process by supporting your sales team:
- Provide dedicated virtual assistant services
- Manage brokers’ diaries and email inboxes
- Enter client data into CRM
- Collect, collate and digitise supporting documents
- Run serviceability and funding calculations
- Communicate with prospects
Loan processing
Make loan processing and credit support teams more efficient:
- Provide dedicated loan admin
- Enter data into processing systems
- Prepare required documentation
- Order valuations and special pricing
- Prepare lodgement packs
- Follow up outstanding loan conditions
- Track applications to unconditional approval and settlement
- Manage communications with customers and third-parties
Compliance
Ensure fulfilment of compliance and responsible lending obligations with dedicated compliance services:
- Undertake ACL and file compliance reviews against a compliance checklist to ensure all required information and documentation is correctly recorded
- Undertake corrective actions to fix compliance issues
Customer service
Support customer service teams to focus on nurturing relationships and up-selling diversified products:
- Provide dedicated customer support services
- Maintain marketing databases and campaigns
- Gather current loan and property data
- Prepare annual review reports
- Process loan variations
- Monitor pre-approval applications
- Track construction loans
See immediate benefits
With Loanworks taking care of your support needs, you’ll notice the difference very quickly, including:
- More efficient brokers, writing more loans, increasing your revenue share
- A negligible error rate (what will you do with the extra time now that you’re not troubleshooting?)
- Happier, more productive and focused staff
A customised solution, because every business is different
Broking is complicated and heavily regulated, and has little room for error. That’s why Loanworks is the obvious partner.
With more than 30 years in the Australian finance sector, specialising in mortgages, Loanworks is already a leader in the industry. We have on-the-ground experience of best practices in loan origination processes, and we understand the requirements, as well as the pitfalls that you face daily. Rest assured, we know how to deliver services that fit within your risk profile, because we know how important that is to you.
We’ve supported hundreds of Australian business owners, general managers, credit managers and business coaches to outsource their administrative processes.
So we know that, for originators, there’s no such thing as a one-size-fits-all solution. That’s why we take the time to get to know your business and find what works for you, right now.
The advantages of outsourcing to a specialist
Expertise brings results. Loanworks delivers a 60% cost saving on labour, we have a 92% retention rate for talented, experienced loan processing staff, and 95% of our clients stay with us over the long term.
Our industry-specific outsourcing means you have access to:
1. Staff trained in business critical processes
The Loanworks team is trained in all core processes, systems, and responsible lending practices. We are experienced in using all aggregator CRM systems, ApplyOnline and LoanApp.
2. Full compliance with industry regulations
As lenders ourselves, we fully understand the implications of APRA and ASIC regulations, which is why we are ISO certified, compliant with the Australian Privacy Act, and why we implement and continually update the latest measures in physical and digital security and secure data storage.
3. Specialised software implementation and support
We use best of breed software for mortgage managers so you get the top-of-the-line workflow, document management, and credit decisioning technology.
4. Specialised service delivery support
Our service delivery team are all experienced loan processors with many years experience supporting Australian businesses.
Lending products too
In addition to specialist outsourcing services and best-in-class software solutions, we offer white label commercial and residential lending products, for owner-occupied and investment purposes.
Simple, efficient, loans, without all the unnecessary bells and whistles (or costs). Plus, because we control the entire process, you get to speak directly to the person approving the loan, so it’s simple and clear, from end-to-end, and you get great turnaround times.
Frequently asked questions (FAQs)
Loan originators are, necessarily, very thorough, cautious professionals, unlikely to go down a particular road without asking a lot of questions first. That's why we've answered these questions many times:
We're in the lending business ourselves, so we're well versed in compliance matters, including APRA, ASIC, ISO certification, the Australian Privacy Act and requirements for physical and digital security, and secure data storage. We have dedicated compliance services to help your business fulfil its compliance and responsible lending obligations.
We've operated our own outsource operations in the Philippines for nearly a decade and specialise in services for Australian loans originators and lenders, so we know how to integrate teams and manage change. Our experienced staff will work closely with your business to ensure smooth integration.
You don’t have to. Loanworks tailors its solution specifically to meet your needs, so you only outsource exactly what you need to outsource, and nothing more. We provide advice, but it's completely up to you.
Loanworks integrates all services within your existing systems, linking with current software, like your CRM, and processes as needed. We're also a well known industry software provider, and we bring this expertise to bear in all aspects of our business.
Find out how Loanworks can help today
Loanworks broker support solutions will streamline your sales, loan processing and credit support processes, leaving you to focus on writing more loans and increasing your margins.
To learn more, please call Jason Goodacre, our Outsourced Services Manager, on +61 498 112 056. Jason has worked on designing and delivering customised solutions for many clients, and has the expertise, creativity and commitment to find the right one for you.
