Landbay and Cotality upgraded their technical interface to speed up the broker’s purchase application process.
The new application programming interface (API) means that brokers will be able to submit cases directly through the “Purchase to LET” center.
The lender said the changes will improve accuracy, eliminate the need to type data manually, and allow faster stress testing of portfolios.
Landbay Chief Loan Officer Paul Clampin said: “Landbay has always worked hard to improve the predictability of the mortgage decision-making process while reducing the burden on our intermediary partners.
“Integration with Cotality will reduce the need to manually enter information.
“Instead, the information will be submitted directly to Landbay’s system.
“This will automate the evaluation of portfolio information through Cotality’s critical systems.”
“Integrating all of our systems into the mortgage operation platform is creating a faster, safer and seamless data journey for brokers and lenders,” said Mark Blackwell, Cotality’s chief operating officer.
Yesterday, Landbay lowered interest rates on many products.
