OMS launches loan origination platform

OMS has announced the launch of OMS Originations, a loan origination platform specifically aimed at banks, building societies and specialist lenders.

OMS has previously worked with a number of specialist lenders to provide customised origination solutions for first and second charge residential and buy-to-let, as well as bridging lending options.

The tech provider has now developed its own mortgage origination platform which aims to streamline the whole end-to-end origination journey for both the intermediary and direct submission route, while ensuring that all parties remain fully informed throughout the process.

A customisable dashboard allows lenders to create efficient workflows to meet a variety of borrowing requirements without having to endure lengthy development times or additional costs.

OMS Originations also supports instant decisioning, product engine, bespoke underwriting processing plus second and third line audit functionality so that everything is in one place. In addition, the platform supports a range of complex products including semi-commercial, self-build, JBSP, buy-to-let, retirement interest-only, right to buy, holiday lets and mortgages for expats, limited company buy-to-let and commercial, amongst others.

Neal Jannels, managing director of OMS, commented: “We understand how the dynamics of the customer profile has changed over the past 10 years, and so the need to develop new propositions and enhance efficiency is more important than ever. We also acknowledge the history and values banks and building societies have, especially when it comes to the impact of societies on their members and in the local community. However, we realise that maintaining an edge with innovative products is proving difficult due to antiquated systems and legacy issues.

“Our mission is to support such lenders in the transformation programme to become a modern lender by providing advanced technology to help achieve lending goals, boost efficiency, mitigate risk, and cater to a new generation of borrowing needs.

“It’s all about being in a position to deliver the right customer-centric experience by using the latest technology for end-to-end efficiency. When aligned with our market experience and dynamic approach, we believe OMS Originations can help these institutions to deliver a far more efficient, faster and an increasingly robust mortgage origination process in a cost effective manner.”