EXCLUSIVE: United Trust Bank launches online mortgage DIPs and auto-underwriting

The system enables brokers to receive a real-time pass, refer or decline decision following completion of a short application process taking around 3-5 minutes. If the product requested does not fit UTB’s criteria, the system will provide alternative products more suited to the applicants’ circumstances.

The online DIP is integrated with credit search and AVM providers to provide a binding 30-day decision.

UTB’s auto-underwrite system supports the online DIP decisioning and takes every factor of the applicant’s circumstances into account to provide a response tailored to each individual scenario. The system tells the broker what they need to submit to reach a full mortgage offer quickly, bespoke for every client. Day-one requirements for inclusion at full mortgage application can all be uploaded via the Mortgage Portal.

These new enhancements, combined with the recently launched document upload functionality, are expected to improve turnaround times and increase broker conversions.

The Bank’s Broker Summer Support Package 2021 (#BSSP21) is a program of product and process improvements designed to help mortgage brokers write and complete more business, especially when dealing with customers requiring specialist underwriting and administration.

Buster Tolfree, director of mortgages at United Trust Bank, commented: “There’s a lot of activity in the mortgage market but brokers aren’t necessarily getting the speedy service from lenders they deserve, especially with their more difficult to place cases. These latest process enhancements will enable brokers to quickly obtain a DIP, be referred to a specialist underwriter for further help or get a swift decline, 24 hours a day, seven days a week and our auto-underwrite system should help accepted cases fly through to a quick full mortgage offer.

“Our #BSSP21 campaign will continue through the summer with further exciting process and product announcements to come.”