COIN launches mortgage module
COIN software has launched a new mortgage module for COIN Office, targeting the increasing number of financial advisers offering mortgage broking services to their clients.
Macquarie announced the new module included in-built features to help advisers meet the new National Consumer Credit Protection (NCCP) requirements.
COIN Mortgage would allow advisers to view up to 10 different products at once and compare loan features, interest rates and fees and conduct a cost analysis based on a client’s loan scenario.
Macquarie Adviser Services head of product and technology for COIN and web, Robert McCabe, said a survey among COIN’s IFA clients in August 2010 revealed that nearly three out of four financial planning practices at that time had mortgage broking, or referral services to their clients, on their agendas.
“Those results indicated to us that there was a real need to provide a solution that would offer additional support to advisers as they diversified their business streams into what is a completely new area for them,” McCabe said.
COIN Mortgage also includes a single client data capture point, allowing advisers to integrate mortgage advice into their financial planning businesses.
Macquarie also said the new module could fast-track client loan applications by feeding data directly into the lender’s ‘ApplyOnline’ application form.
McCabe said COIN worked in consultation with mortgage brokers and Macquarie’s mortgage team to develop the mortgage module.
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