June 15, 2005 - Westminster Savings Credit Union has become the latest lender to begin accepting mortgage applications through MorWEB, Marlborough Stirling's mortgage origination system for brokers.
As a web-based service, MorWEB enables mortgage brokers to capture customer and property details and submit applications directly to Westminster Savings’ broker centre, where credit decisions are made. Throughout the process, online file tracking allows brokers and underwriters to view the status of pending deals in real time.
Jonathan Dominy, Manager, Mortgage Development for Westminster Savings comments, "The technology that connects us to brokers is vitally important. It’s fitting that on the fourth anniversary of the opening of our underwriting centre, we can say that technology has caught up to where we want it to be. We expect that MorWEB will bring significant benefits to our operations by improving the speed and consistency of our credit decisions and streamlining the flow of information between mortgage brokers and ourselves. This service provides the same level of consistency, reliability and stability that we pride ourselves on at Westminster Savings, and we look forward to realizing immediate productivity improvements."
Steve Bainbridge, Marlborough Stirling Canada’s National Director, Mortgage Services, adds, "Having the support of Westminster Savings means a great deal to us. We are very pleased to have them on board not only because they are one of Canada’s largest credit unions, but also because this marks another successful step toward establishing MorWEB as a front runner in the mortgage broker origination market. This confirms once again that MorWEB is real, it’s live and its acceptance is growing."
About Westminster Savings Credit Union
As one of Canada’s largest credit unions, Westminster Savings is dedicated to providing full financial services to the residents of British Columbia’s Lower Mainland. Westminster Savings has $1.2 billion in assets, 51,000 members and eight retail branches in New Westminster, Coquitlam, Port Coquitlam, Maple Ridge, Surrey, and White Rock. For more information, see www.wscu.com.
About Marlborough Stirling
Marlborough Stirling is the Financial Services Division of Vertex. Vertex has more than 10,500 employees in 45 locations across the UK, Europe, North America and India. Vertex is part of United Utilities plc, a FTSE 100 company. For more information, see www.vertex.co.uk
Established in 1987, Marlborough Stirling provides software and services to the mortgages, life and pensions and investment market sectors. Its software and services enable financial service providers and intermediaries to meet consumers’ demand for flexible financial products that are distributed and serviced through a variety of channels, and processed cost-effectively and efficiently. In Canada, the company’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 customer inquiry to final discharge. Marlborough Stirling’s Canadian offices are located in Toronto and Vancouver.
For more information