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2008 is seeing BDS defy the laws of Gravity with a five-fold increase of online enquiries as a direct result of its specialist online sourcing system.

This year has seen the specialist markets fall back to earth with a bump but thanks to the impact of Gravity – the specialist online sourcing system - this swell has seen BDS challenge the gravitational pull of the market with the increase resulting in around 90% of new business enquiries. Almost half of these enquiries then go through to the Decision-In-Principle (DIP) stage and then, assuming they fit the product criteria, the broker can then submit an application via Trigold’s Electronic Trading Platform and an underwriter will look at the case within 15 minutes of receipt – assuming all of the information is correct.

Gravity is a web-based system so it is updated online, this ensures that products are constantly updated and in some cases can actually be updated faster on Gravity than on the lenders’ own website. It has direct links to lenders KFI’s and decision engines. Gravity also provides proactive management information as it has the ability to be able to deliver numerous reports, in various formats and different frequencies.

Bob Hope, Sales & Marketing Director at BDS, commented:

“2008 has seen an unprecedented number of product changes and withdrawals which has resulted in growing numbers of brokers left high and dry in terms of product placement. As lenders continue to reduce their pipeline submission times BDS is offering brokers an easier route to securing a product for their client. By using Gravity to source and DIP, then submitting the application via Trigold’s ETC we can guarantee that an underwriter will be looking at the case the same day.

“Time really is of the essence in the modern day mortgage market as we are all aware of how much more business and ancillary sales we have to place in order to get sufficient financial reward. We firmly believe that Gravity will not only save broker’s time but also reward them with great accuracy and efficiency with are all ‘must haves’ in the current financial climate.”

Source: introducertoday