Online mortgage business goes live with CRM system

Loansurf, an online mortgage tender system that competes with E-Loan, is about to go live with an in-house-developed customer relationship management system that will let banks and brokers track the success of their offers.

Loansurf, an online mortgage tender system that competes with E-Loan, is about to go live with an in-house-developed customer relationship management system that will let banks and brokers track the success of their offers.

Loansurf recently launched Mortgage Tenders, a service that allows potential borrowers to use the internet or phone to complete a loan application that is put out to tender by the Loansurf system. The CRM system will back this service.

Loansurf executive director Dave Fermah says $20 million worth of mortgage applications were lodged with the site in the first two weeks of Mortgage Tenders being on offer. Thirty-two percent of borrowers have said they’re interested in offers they’ve received from the banks, he says. Now the company is analysing its transactions to see how many tenders have resulted in closure.

Fermah says Loansurf is still negotiating licences to use its technology with companies in Australia and the UK.

The online mortgage broking area is in flux at present. AMP-backed online financial services broker Liquid.co.nz launched several weeks ago, while E-Loan recently shed all but three of its 17 staff and radically changed its business focus in April because of the shaky outlook of parent company eVentures. The Warehouse has taken over E-Loan's IT support, marketing and promotion activities, which remain low-key.

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