End-to-end mortgage platform, Smartr365, has launched an “industry-first” technology to automatically sync procuration fee claim information between itself and Legal & General Mortgage Club’s ClubHub.
The new tool supports rapid payment while enhancing the accuracy of the data shared, reducing the risk of payment discrepancies.
Smartr365 has suggested the service will reduce the time needed to claim procuration fees by automatically prompting L&G Mortgage Club members to claim their fees at the right time in the journey.
This could allow the mortgage club’s members to pay without waiting for confirmation from the lenders in question, providing a more efficient payment process.
“We are thrilled to announce another industry-first development with the launch of automated procuration fee payments for Legal & General Mortgage Club members,” Smartr365 CEO and founder, Conor Murphy, commented.
“I founded Smartr365 in 2016 to disrupt legacy attitudes and practices, and today’s milestone is another example of our continued commitment to this. Tech tools help to alleviate brokers of time-sapping admin, borrowers of stress-inducing delays, and lenders of disappointing blockages in their business pipelines, so we look forward to building other features to aid all parties.”
Legal & General Mortgage Club director, Clare Beardmore, added: “Reconciliation is an important but often time-intensive task, so I’m pleased that today’s development should help reduce the time taken by brokers to manage their hard-earned fees.
“We know how busy our valued members are and remain committed to introducing other time-saving features that give them more time to do what they do best; supporting customers.”
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