What is Homechain?
Homechain empowers vendors to increase profitability by reducing the loan origination and funding process from an industry average of 42 days to 5 days and is the first truly end to end Loan Origination Platform in Australia. Homechain is also the first end to end automated mortgage origination processing system that integrates with a digitised settlement registry (PEXA).
Homechain is a 14-step loan origination solution that covers the full end to end loan origination process from application through to settlement and is fully automated. It can allow for a manual credit assessment and decisioning step in the initial phases, to assist an institution to pilot and gain confidence in the auto-decisioning capabilities.
How does it work?
Homechain delivers improvements in speed, security and efficiency in your organisation through it’s innovative automated workflow.
The attributes you will find valuable are:
Advanced accuracy – we enable retrieval and verification of data via API calls to the recommended or chosen data providers declared as ‘the source of truth’ to reduce fraud and remove the human error component.
Workflow efficiency – We have challenged and re-arranged the current day workflow for traditional home loan lending to ensure all the verification, qualification and identification is captured and verified up front to improve organisational efficiency and customer experience.
Integration capability – We are able to integrate directly with your existing document generation tool and recommend a fully digital process to gain the most benefits in terms of back office efficiencies.
Sophisticated Credit Worthiness Tool – Many credit scoring tools focus on debt servicing capabilities (DSR’s) but not on a combination of DSR & Asset Risk. Our tool enables the complete configuration of the credit rules around the components of credit score, asset information and overall DSR capability.
On-going Risk Review Application (Regchain) – Because we have built the solution with blockchain technology, we can enable further uses of the data to provide intuitive ongoing risk intelligence about the behaviour of individual applicants, as well as an overall loan portfolio. This is significant asset to assist with ongoing regulatory reporting and compliance.
Flexibility to be used across all channels – With true omnichannel enablement, our Homechain platform is an intuitive web based application and can be provided as an interface to both direct and broker channels. It has been developed to be accessible via any device, so your lenders and brokers can use it while on the move.