My Mortgage Hub

The solution is built around a hub where you can view your progress towards the intended purpose of obtaining the mortgage. It gathers all your data and at any time you can access it to view the status of your application. It can be accessed from the email sent via a dedicated button. From here you can access different steps and manage your application. This hub is a centralized space where the application is viewed at a glance. Not only can it be accessed around the clock, but it can be accessed days later after the initiation of the loan request.

On the My Mortgage Hub page, there is a progress bar with six steps executed after the decision in principle is approved during the underwriting process. They are color-coordinated to mark their completion status:

  • Get a DIP: By clicking View Details, you can return to the page Congratulations!
  • Full approval: This is the next stage where your identity is validated.
  • Property evaluation: This step is not accessible until the user finishes the previous step. An assessor conducts an evaluation of the property to determine its potential.
  • Insurance: This step is not accessible until the user finishes the previous step. The property must be insured first, otherwise, the amount is not disbursed.
  • Conveyancing: This step is not accessible until the user finishes the previous step.
  • Disbursement: This step is not accessible until you finish the previous step.
HINT  
The steps with violet purple are the completed steps, the yellow steps are the current steps, the dark purple steps have not yet been accessed. You must complete each step one at a time, before you are able to move to the next step.

Click Continue. From this stage you can choose to postpone the application and resume at a later date.

Additionally, the system sends an email that includes a link. By accessing the button Go to my mortgage hub from the email, you can return to this step anytime. For details, see Email Configurations.

NOTE  
The system updates the business workstatus and gets the data about the applicant by calling the scripts FTOS_BARET_GetMortgageHubAction and FTOS_BARET_GetMortgageApplicantsId within the flow FTOS_BARET_MortgageHub > step Step1 > Advanced > After Events.

Pending Approval

After the decision in principle is approved, you access My Mortgage Hub from where you begin the Formal Approval. Once you are done with declaring your personal data, your income and expenses, you return to this hub where you can keep track of the status of your application while it is under loan underwriting process where a back-office employee has to approve or fail your formal approval. While you are waiting for the response, you can access My Mortgage Hub.

While the application is pending, the Continue with Property Valuation is disabled. Once a back-office employee approved the request in the Back-Office Dashboard, then this button becomes accessible to you.

From My Mortgage Hub, click View full Approval Status to display the status page of your mortgage request.

Click Back to My Mortgage Hub to return to the previous step.

Congratulations!

This confirmation screen is displayed to the customers for whom the mortgage request has passed the manual underwriting process and the back-office employee approved the amount. The back-office employee can approve even a smaller offer that fits within your debt-to-income ratio.

Click Back to My Mortgage Hub to return to the previous step.

Click Continue with Property Valuation to proceed.