Being a busy broker is rewarding, but also presents its challenges! The amount of wasted time spent by either myself or my staff chasing up documents to ensure a loan is progressing can be very frustrating, to say the least.

It’s also easy to forget a step or document in the process. A small miss can lead to nasty surprises that take a lot of time to clear up and can impact other files. What we needed was something we could use to manage daily workflow.

BrokerEngine has been fantastic for our business.

It has helped to ensure we no longer miss the little things (that can quickly escalate into big problems) and has helped us to better manage workflow and deadlines.

Being able to work more efficiently allows us more time to concentrate on growing our business and ensuring all our current clients are looked after. We now have more time to invest in client relations and reviews.

Whether you are a part of a large broker group or work independently, BrokerEngine is a must-have. The system is also very user friendly. I would highly recommend the team at BrokerEngine.

As we have grown, we’ve found it more and more important to ensure we don’t sacrifice quality as we grow volume.  At the same time, I want systems that enable our brokers to serve more clients, while knowing our back end processing is rock solid. BrokerEngine has become a big part of making this happen.

One of the best features is the Broker Wizard. This is a feature that lets the broker “brain dump” all the necessary information about a deal into the system to be picked up by our admin staff. The staff can then create an opportunity, collect documents, process the application and follow it through to settlement. It also generates an easy report for staff to follow and get their head in the deal, no different from an assessor.

It creates a daily activity queue for staff, allows you to enter funding positions, sends automated emails at each stage, and even records post-settlement accounts and interest rates with discounts so you know the rate when reviewing in future.

I’m really only scratching the surface.  In short, BrokerEngine handles all the details so brokers can be more productive and clients can experience a better service.

Blown away by what we have been able to achieve with the help of BrokerEngine and their team!

We have basically "idiot and fire proofed" our business to ensure that processes, tasks, checklists, emails, lender policies and idiosyncrasies, (whether they regular, irregular, lender or deal specific) don't fall through the cracks.

Now we can tailor our work flows and emails according to the type of deal, lender, client and stake holders and have it automated so that we can focus that energy on other more important parts of the business.

Basically, think of it as a big deal funnel where depending on the criteria, it will basically build a workflow specific for that type of deal/client/lender so that you don't miss anything. And the best thing is that if something happens to change in your process or from a lender perspective, you can update that change in the system in a matter of minutes (no having to wait for someone else to fix it) so going forward, that change is reflected on future deals!

After initially setting up the software with the help of Nat during our induction (don't stress, the system is ready to go out of the box if you like) and using it for our day to day workflow and doing some minor "tinkering", we recently decided to really deep dive and find ways to automate our process to an even more granular level to streamline our processes.

That included adding automated lender specific, deal specific sub-workflows and emails so that we could ensure that our clients were getting the specific information that they needed in order to have a seamless application and settlement process with us and their particular lender.

Effectively, we were trying to remove the need for our team to have to check and on-forward as many emails as possible to clients and stake holders, free up time to be able to focus on things that couldn’t be put on "auto-pilot".

The system also has a "draft email" system which means if there are emails that need to be checked or edited, they pop up for easy access in your work flow and to edit and then click send and off they go.

One example we had was for specific lenders ID processes, the system now sends the client an automated "You Need To Go To The Branch Now To Complete Your ID Process" email at a particular stage so that it is completed by the time the application has reached the lenders assessor. It goes out automatically, no need to remember to send it or remind the customer, it just happens!

The system (and the support team) have been brilliant, it is almost to the stage of "if you can dream it, it can be built" and we have probably only just scraped the surface of the full potential of what the system can do.

Thanks again BrokerEngine, we have been able to smash our previous best settlement month off the back of utilising the software and we now know that we have a solid foundation to be able to throw more deals into our pipeline without the quality of service and communication dropping as a result of us being busy, stressed or just getting in the way of ourselves by having to rely on humans to do what automation can handle to produce outstanding results.

Highly recommend for brokers that want to take their business to the next level!"

As things continued to grow, we found ourselves bogged down with simple administration and compliance tasks.  Small mistakes were costing delays in approvals that would then impact other deals in progress.

We needed a system that was going to be able to assist us in streamlining our processes and maintain visibility. BrokerEngine freed up this bottleneck and we were able to continue serving additional clients. It has reduced the room for error and we know exactly where we are up to with each deal, in one simple click.

Now is the most important time to adapt to new technology and stay relevant, given all the advances in fin-tech. With BrokerEngine in place, we’re able to compete with a superior level of customer service.

As a firm we are very open to using technology to drive our growth, and we’ve seen more than a few mortgage broker software products come and go. Most of these we have just found to be a prettier version of existing aggregator software.

BUT what is being lost is:

• how do we as brokers manage internal processing?
• how do we become more accountable as a broker?
• how do we ensure smoother settlements and not miss critical tasks in the loan process?
• As an owner, how do we measure staff accountability?

That’s why I became more and more impressed as I delved deeper into BrokerEngine. The most important factor is that this system has been built by a high-producing broker, not by someone at the administration level, and not at the aggregator level (non end-user).

This is so important, because BrokerEngine has created a solution for almost every part of the loan application process. For example, even down to triggering a postcode check for LMI for a specific deal because it’s over a certain LMI. It is features like this that are helping to ensure smoother settlements and letting our brokers focus more on the task at hand instead of worrying about what’s happening behind the scenes.

Although I have grown my volumes over the years to what many brokers would consider a solid level, I had hit a plateau for a few years. My aim was to break out of this holding pattern. To do this, I needed better processes so I could get systematic about my growth. I considered doing this myself, but realised there would be hundreds of hours of “grunt work” involved.

When I took a demo of BrokerEngine, I realised the hard work had already been done for me. What attracted me to BrokerEngine was that it was designed by a highly successful broker. Rather than having to populate a system with all my own content and templates, all the broker-specific tasks and templates were already built in.

I’ve found that the “1-Click Workflows” and checklists within BrokerEngine make it almost impossible to make a mistake or overlook something like an incorrect interest rate, or a refinance rebate not being paid. This has driven efficiencies which has allowed me to focus on client-facing work.

In short, BrokerEngine has given me a strong platform to scale my business and achieve the targets I’ve set myself.

As a loan processor, when you’re only processing a couple of deals every week, it’s easy to keep track.

But as you get up to 10+ deals a week, it’s almost impossible to keep up with all the minute details and compliance without the occasional error creeping in.

That’s where BrokerEngine really helps.

For example, automated tasks remind you to follow up on certain deals if you haven’t heard back from the lender assessor.  And the Dynamic Checklists ensure you never overlook important data that may have an impact on settlement.  This means I can get on with my day without worrying if I remembered to perform a certain task or check on the status of all my submissions. As a result, critical errors have been reduced and deals are getting settled on time.

Loan processing is all about efficiency AND accuracy. It’s no good doing things quickly if mistakes are made. Before using BrokerEngine, I lacked a system to track all loans in one place. I’d spend a lot of time going back and forth between spreadsheets and file notes. This was not only time consuming, but it was more prone to error.

BrokerEngine has solved this problem by displaying the entire Deal on one screen. I no longer have to flick between screens to get the information I need. The system also automatically prioritises tasks. With a quick scan over the dashboard, I can see exactly where everything is at rather than having to dig into file notes and reminders.

I’ve been able to grow my business and process more loans, without stressing about how to manage workload and without letting client results slip.

I have wished for so long that someone would develop a fool proof loan processing program. Regardless of the broker's size or monthly volume, I believe it is so important to have an easy to use, streamlined process in place for countless reasons. Congratulations BrokerEngine you made my dream come true! I am looking forward to the ongoing development of BrokerEngine.

My trigger for checking out BrokerEngine was the desire to improve my processes and get my business ready to utilise loan processing services.

I took great comfort in the fact that the software was founded by a broker and was designed to help brokers cope with workflow and compliance in a busy practice.

The system allows me to manage a client right through from lead stage through to settlement and then through ongoing reviews.  It’s like a one stop shop for managing my client base. 

Especially when working with other team members, the software makes things much more efficient because it allows you to capture and communicate relevant information for your support team in a streamlined way.

Especially if you have a team, BrokerEngine is a no-brainer in my view.