How Cloud-Based Processes Are Revolutionizing Broker Workflows

LEXTECH is committed to tailoring its systems to meet the specific needs of all users, Brokers, Lenders, and Solicitors. We work closely with our clients to ensure they have access to the tools and features necessary for efficient workflows, ultimately leading to a smooth settlement process.

In 2022, mortgage Brokers facilitated 71.7% of all new residential home loans.¹

Borrowers have been compelled to seek out mortgage refinancing options as a means of obtaining more favorable rates. Scaling up for brokers is only going to be possible with robust & resilient technology solutions.

Brokers are about to get busier, and they need an efficient technology partner to continue to deliver market leading customer service. LEXTECH is the solution.

LEXTECH’s technology connects to any loan origination platform and ensures loan documents are prepared correctly, faster, and signed easier and quicker. LEXTECH also reports on all important steps for settlement and its automated and customisable communication tools ensure brokers are never left wondering if a loan has not settled.

The Mortgage and Finance Association of Australia (MFAA) CEO Anja Pannek explained “with many borrowers reverting from fixed to variable rates in 2023, mortgage Brokers are also well placed to support their clients to understand their options and select the product best suited to them..”²

To LEXTECH, transparency is key to ensuring brokers are supported and have up to date information to inform customers & complete settlement tasks in collaboration with a financial institution.

That’s why at LEXTECH, we created a go-to stress-free and methodical settlement process.  

Our platform allows all parties to access every digital file for their loan directly to see the file status at the click of a button. Eliminating the need for multiple communication methods and unnecessary double handling of information. 

LEXTECH can be accessed securely anywhere at any time, granting Brokers peace-of-mind via simply logging into the LEXTECH cloud-based platform. Not only does this give parties the full transparency of a file, but also the ability to action requests wherever they are located.   

LEXTECH knows keeping things simple is important. 

Simple means reporting will no longer be a dreaded and lengthy process. LEXTECH has tracking and analytics integrated into the system which creates an accurate, calculated and detailed report based on Broker requirements, to assist Brokers in tracking their accomplishments and responsibilities. 

We understand that every lending transaction is unique. 

¹ CoreLogic data released as commissioned by MFAA dated 28/11/2022 accessed 18/4/2023 - https://www.mfaa.com.au/news/mortgage-brokers-break-another-market-share-record
² CoreLogic data released as commissioned by MFAA dated 28/11/2022 accessed 18/4/2023 - https://www.mfaa.com.au/news/mortgage-brokers-break-another-market-share-record