United Trust Bank has announced an important product update. Click here for the latest Master Broker/Packager/Distributors product guides. Or here for the updated product guides for Direct/Networks/Club. If you have any new applications you wish to discuss, please Contact us for more information.
ANNOUNCEMENTS
UTB: BTL Launch DIP and Auto-Underwrite
DIP Launched
I am pleased to confirm that following a successful trial, we have now activated the DIP for all BTL products. Rather than all applications referring for a manual review as they have been to date, the DIP Results screen will now provide an immediate decision of either:
- Pass – An approval, valid for 30 days. Further information will also appear.
- Fail – A decline, we cannot proceed. A reason will be provided.
- Refer – Further manual review by UTB is required, we will respond in 2hrs.
Automated Underwrite
Following a ‘Pass’ decision, further information will also appear. In the background this Pass decision triggers an Automated Underwriting process. Using the information you have keyed, combined with a series of complex API integrations with third party providers such as Equifax and Hometrack, a bespoke set of Application Requirements for each specific case will be given.
This Automated Underwrite is very intelligent and goes far beyond basic catch-all details. For example, the Mortgage Portal will know whether the applicant is an individual or SPV and request specific information relating to that scenario.
Once you have gathered the necessary Application Requirements, documents can then be uploaded, and the case submitted to us as normal. After Full Mortgage Application all the information will be assessed by a mandated underwriter, and we will liaise with you regarding any further information that may be required before a Mortgage Offer is issued.