Canadian Mortgage News

January 2005 National News Archive

Envision Financial selects MorWEB to enhance mortgage operations

November 24, 2005 – Stewart Eadie, Marlborough Stirling Canada Vice President, ASP Accounts, is pleased to announce that Envision Financial has become the latest lender to begin accepting deals through Marlborough Stirling Canada’s MorWEB mortgage origination system for brokers.

Envision Financial is B.C.’s third largest credit union and is among B.C.’s leading financial service providers. With 18 branches throughout the province, Envision has built a reputation for offering exceptional attention to personal service, providing expert advice and mortgage options that are tailored to the needs of its clients, at a time and place that is convenient for the consumer.

Lorane Martin, Envision’s Manager, Mortgage Services comments: "Through the use of MorWEB, we are making the task of securing mortgage financing easier and faster than ever before. MorWEB provides real time access to deals at all stages in the origination process, allowing us to act on the lending decisions faster and more consistently across our origination channels."

Using MorWEB, mortgage professionals can capture all relevant client data and documents for the purposes of mortgage financing. This includes personal and credit information, along with specific details for the subject property. The mortgage professional can then model the application before recommending it to the lender for approval. Envision Financial will subsequently use MorWEB’s lender functionality to underwrite the application. With new web-based features such as electronic proposals and two-way messaging, underwriters can provide answers and commitment letters in real-time. From approval to subject removal date, both lender and broker will now be able to track individual conditions without the need of fax machines and paper; anytime, anywhere via the web.

Stewart Eadie concludes: "By offering unique products such as the Redfrog all-in-one account, which allows homeowners to manage their mortgage like a line of credit, Envision Financial has consistently shown its willingness to adopt creative solutions to increase their market share and better serve their clientele. The use of MorWEB is another step that will help further position Envision as a market leader, and we are confident they will benefit from the increased productivity that MorWEB provides."

About Marlborough Stirling Canada
Marlborough Stirling Canada is a wholly-owned subsidiary of Vertex Financial Services (www.vertex.co.uk). Vertex is an international business process outsourcer based in Manchester, UK, with particular expertise in customer management. Vertex develops and implements a range of service solutions including transformational outsourcing, combining its skills in consulting, technology and outsourced service provision to stimulate and facilitate business change and flexibility.

Vertex is part of United Utilities plc, a FTSE 100 company, and works in partnership with clients in the commercial, financial services, utility and public sectors, as well as the North American utility sector, to deliver operational and customer service excellence. Vertex has 9,000 employees based in 69 locations across the UK, Canada, the USA, Switzerland, Liechtenstein and India.

Marlborough Stirling Canada’s focus is on mortgage origination and administration, offering a complete range of hosted and licensed software implementations capable of achieving seamless straight through processing of mortgage business from initial customer inquiry to final loan discharge. For more information see: www.mscanada.com

About Envision Financial
Envision Financial, home of the popular Redfrog mortgage, is a leading financial services provider with 18 branches throughout B.C. Recognized as one of the 50 Best Employers in Canada by the Globe and Mail's Report on Business magazine for the third year running, Envision has $3.0 billion in assets under administration and a $4.6 billion book of business, nearly 750 staff and more than 80,000 members. Website: www.envisionfinancial.ca

For more information on MorWEB connectivity:

Stewart Eadie
Vice President, ASP Accounts
Tel: 416-620-2692
Email: stewart.eadie@mscanada.com

News source: Marlborough Stirling Canada