Gen H has doubled the number of applications that receive a mortgage offer during the first session of underwriting, following enhancements to broker tools to improve their packaging quality.
The number of cases offered in the same session that were considered to have medium-to-high complexity, therefore requiring greater underwriter scrutiny, increased by 10%.
The improvements have been driven by a collaboration between the lender’s engineering and underwriting teams.
AI-led improvements
The team fed an artificial intelligence (AI) agent with six months of underwriter requests to identify common speedbumps and implemented fixes, such as creating input fields for eVisa share codes, children’s ages where there are dependants, and deposit accumulation evidence. When additional evidence is required, where possible, the system will ask for information upfront to avoid back and forth.
These enhancements mean more brokers are receiving mortgage offers in less than two days, and year to date, one in four cases have received a one-touch underwrite.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
Pete Dockar (pictured), chief commercial officer at Gen H, said, “Offering on an extremely low-risk case in a matter of minutes is one thing – but offering on a case with complex income, multiple dependents and foreign nationals in the same session on first review is a major accomplishment. This is proof that smart systems enable your best people to deliver the best possible client outcomes.”