Written by 1:12 PM Mortgage Industry News • 6 Comments Views: 2

Merix Enhances Its Broker Portal

MerixBrokering involves a lot of waiting. We wait for approvals, wait for lender confirmation of document receipt, wait for lenders to review documents, etc. etc.

It’s nice to have some instant gratification every now and then. Merix’s new Explore 2.0 broker portal delivers that.

Explore 2.0 comes with several enhancements:

  • Brokers can now upload supporting documents directly to a client’s file. Merix will confirm receipt instantly. This eliminates the aggravating, “We didn’t get your fax” routine.
  • Underwriters will immediately be able to view documents. No longer will a clerk need to first manually attach incoming paperwork to a file.
  • Merix’s credit administrators are now immediately notified that documents have arrived via email
  • Brokers are more quickly alerted when documents are approved because underwriters don’t have to update two systems (Filogix and Explore)

Absolutely every lender should offer secure document uploading with timestamps and immediate broker confirmation, either via its own portal or via a third-party system like Filogix Exchange. Relying on humans to process faxes is downright 20th century.

Systems like Explore 2.0 minimize broker uncertainty and encourage faster turnaround (because of greater lender efficiencies and because brokers can track turnaround times with precision and hold lenders accountable for their SLAs).

Robert McLister, CMT

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Last modified: April 26, 2017

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.