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Bluestone has launched a pre-qualification tool so brokers can quickly take their clients off the market.
Quick Quote allows brokers to do a credit check and provides them with a pre-qualification letter to help them lock in their clients, according to the general manager of Bluestone Asset Management, Peter Wood.
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“Sometimes the borrower doesn’t know if they have credit issues in the background and they’re not aware if those issues have been put on their credit record,” he told The Adviser.
“The main thing we’re trying to achieve with this is simplifying the process for the broker so they can understand very quickly if it fits one of our products.”
Quick Quote is accessed via Bluestone’s website.
Meanwhile, Bluestone’s Australasian general manager, Campbell Smyth, said the lender planned to expand its presence in the expectation of significant growth in the non-conforming market.
Bluestone resumed its Australian lending business in May 2013 after a five-year absence. The company hired its third BDM earlier this week and plans to add a fourth in the next three months, he said.
Mr Smyth told The Adviser that Bluestone hoped to return to the same sort of volumes it reached in 2007, when it was writing $130 million of loans per month.
About 900 brokers are accredited with Bluestone, along with aggregators PLAN, FAST, Choice and AFG, he said.
