Are you ready for a mortgage closing process that’s easier, more predictable and most importantly, better for your clients?
VIP is a real-time solution for lenders and solicitors to process mortgage transactions.
Lenders post documents and instructions to our secure platform. Lawyers/notaries access them through the platform, produce the correct documents, request funds and submit the final report. Easily, efficiently and with far fewer errors than any other method.
This not only provides you with a high level of certainty, it also ensures a trusted solicitor is there to guide your clients and answer their questions. Any legal issues that may arise are dealt with quickly and efficiently. It all adds up to a smoother closing experience – for you and your clients.
VIP connects you and your customers to more than 7,000 solicitors across Canada
4 ways VIP puts you in control
- Customized documents and business rules to meet the needs of your financial institution.
- Solicitors must meet your requirements before submitting requests for funds or final reports.
- At-a-glance milestone notifications let you know the status of each of your files in real time.
- Real-time messaging keeps relevant communications attached to each mortgage file.
Administration and overhead costs
Number of questions from solicitors
Delays in getting final reports
Errors in instruction package assembly
Quality control by reducing human error in document creation
Transaction monitoring and exception management
Certainty that instructions are delivered to the correct solicitor
Data security and fraud protection measures
VIP is accessible 24 hours per day, 7 days a week, to reduce processing and delivery delays.
Loan Origination System
Allows you to complete loan application information
CMHC/Genworth Mortgage Underwriting System
Complete web-based mortgage underwriting system
Links to Emili/Genworth
Automatically calculates underwriting premiums
Maps and pre-populates fields onscreen to assist underwriter
Mortgage Appraisal Intake System
Matches appraisals received to the correct transactions in the system
Allows viewing of appraisal in PDF format
Distributes incoming appraisals among appraisal officers to ensure the even distribution of workload
Broker Interface System
Provides a system that brokers can view that seamlessly links to the lender’s website and allows authorized brokers to confirm the status of their mortgage transactions
Allows brokers to enter the lawyer name, payment frequency, request for loan-to-value adjustment and broker reminders, such as closing date and outstanding conditions reminders
Lawyer Trust Account Verification
Provides a registration process to identify and verify a lawyer’s trust account, and the account that must be used on subsequent requests for funds
Document Management System/Archive
Archives all mortgage-related documents generated by the system automatically, including the Solicitor Package and Final Report on Title
Searches and retrieves functionality by mortgage number, property address, date range and document type
Electronically receives discharge statement requests
Prepares discharge statements and mortgage discharges and then delivers them electronically