Smartr365 has integrated procuration fee claims between its mortgage platform and Legal & General Mortgage Club’s ClubHub.
The broker customer relationship management software firm says the move cuts the time needed to claim procuration fees by automatically prompting Legal & General Mortgage Club members to claim their fees when appropriate.
It adds the upgrade “amplifies the benefits” of Legal & General Mortgage Club’s selling point of procuration fee payment on exchange, by automating the claim and reducing the need for manual input.
The firm says the feature will cut time spent by intermediaries on rekeying and other admin tasks, allow more brokers to take advantage of Legal & General Mortgage Club’s early payment benefit and reduce payment discrepancies.
Smartr365 chief executive Conor Murphy says: “I founded Smartr365 in 2016 to disrupt legacy attitudes and practices, and today’s milestone is another example of our continued commitment to this.
“Tech tools help to alleviate brokers of time-sapping admin, borrowers of stress-inducing delays, and lenders of disappointing blockages in their business pipelines, so we look forward to building other features to aid all parties.”
Legal & General Mortgage Club director Clare Beardmore adds: “Reconciliation is an important but often time-intensive task, so I’m pleased that today’s development should help reduce the time taken by brokers to manage their hard-earned fees.
“We know how busy our valued members are and remain committed to introducing other time-saving features that give them more time to do what they do best; supporting customers.”
