Posted on 01 Dec 2016
StreetSine Technology Group announces the launch of Mortgage Connect, an agent work flow application designed to facilitate property financing.
What is the objective of Mortgage Connect?
To digitize the mortgage process, making it efficient for property buyers to get home loans.
How does Mortgage Connect work?
StreetSine digitizes the mortgage application process into four stages:
1. Mortgage Needs Analysis;
2. In-Principle Approval (IPA);
3. Loan Approval;
4. Home Closing.
By digitizing forms, checklists, and workflows, Mortgage Connect integrates buyers, real estate agents, valuers, bankers, and conveyance lawyers onto a single mortgage platform that makes it efficient for buyers to navigate each stage of the mortgage process and interact with the appropriate property professionals.
What are the benefits of Mortgage Connect?
1. Pre-qualified loans for buyers;
2. Priority loan processing;
3. Competitive interest rates;
4. Discounted SRX Valuations;
5. For a limited time, free title search and bankruptcy checks earlier in mortgage process.
Pre-qualified loans, in particular, contribute stability to the real estate market. They allow buyers to search for homes knowing exactly how much they can finance.
By extension, this mitigates risk for sellers, buyers, banks, and market regulators.
Sellers can be confident deals with pre-qualified financing are viable. Pre-qualified buyers receiving or signing Option-to- Purchase can be confident they will not lose their down payment as a result of the loan application process. Banks can offer more efficient loan processing without the associated risk. Finally, pre-qualified loans add transparency to mortgage underwriting and loan processing, which, in turn, strengthens the stability of the mortgage and real estate markets.
How do buyers obtain the benefits of Mortgage Connect?
Ask a real estate agent. If the agent subscribes to Mortgage Connect, he or she can offer the benefits described in this document.
Who is collaborating with StreetSine on Mortgage Connect?
SRX Valuations, Maybank, participating real estate agents, and selected law firms are collaborating with StreetSine.
What are the steps in Mortgage Connect?
Below are three screenshots that outline the rationale and steps for financing home with Mortgage Connect. While the outline looks complicated, the computer guides the agent and his or her client through the entire process. It should take about 5 minutes to complete each stage.
Mortgage analysis: 5 minutes
IPA application: 5 minutes
Loan application: 5 minutes
Home closing: 5 minutes
About StreetSine Technology Group
StreetSine Technology Group is a subsidiary of Singapore Press Holdings (SPH). It is an innovative software company that specializes in Big Data and Artificial Intelligence for the real estate industry. Among other things, it designs, develops, and integrates Big Data sets with mobile workflow applications to help real estate-related organizations and professionals employ real-time, relevant, proprietary information in the marketing of their products and services.
About SRX Property
SRX is an efficient property market formed by StreetSine Technology Group and the leading real estate agencies in Singapore. Its purpose is to disseminate fact-based market-pricing information and quality property listings so that market participants can transact the right home or commercial property at the right price.
About SRX Valuations
SRX Valuations is a division of StreetSine Technology Group, which is a subsidiary of Singapore Press Holdings (SPH). We provide valuation services for all property types, including residential, commercial, industrial, hotels, development sites etc. Scope of services include Sale & Purchase; Financial reporting; Mortgage; Stamp duty estimation' Rental assessment' Property tax advisory; Insurance; Merger & acquisition pricing; Internal transfer; En-bloc transaction.
Quality Listings consist of v360TM Virtual Tours and X-Listing PriceTM. v360 tells potential buyers the listing is serious. It allows buyers and renters to tour a home before they visit.
X-Listing Price is an asking price that contains a certified valuation. It’s computerbacked. It’s valuer-backed. It’s a price agents, sellers, and buyers can all agree on. For more information visit SRX.com.sg/xvalue-pricing.
For questions or more details, please contact Vivien Lim at firstname.lastname@example.org