MA Money, a non-bank mortgage lender, has announced the launch of its FASTRefi service in partnership with FMS. The service will allow brokers to speed up the refinancing process for their clients across its loan products, which also include full doc and alt doc.
Speaking on the service’s launch, MA Money State Manager NSW/QLD/VIC Tim Lemon expounded on the difference that the new service will provide to the application process as it will allow a refinance to take place within a few days compared to the weeks that have been the norm.
He added that this speedy process will bypass the requirement of arranging a settlement with the outgoing financial institution (OFI) prior to the application.
“We’re very excited to launch FASTRefi and we’re offering this service across a wide range of loan products, from prime to specialist,” said Lemon. “It’s a simple process through MA Money – select FASTRefi in LoanApp, and we take care of the rest.”
Clients who use the FASTRefi service will see funds received within a matter of days after returning signed loan documents. Customers will also see a streamlined cash-out process as well as increased transparency since they will be able to fully know when their new loan will become activated.
Lemon said a broker’s client will be able to quickly access their funds because they will have no need to deal with the discharges team of their current lender.
“This will make a real difference to clients wanting to use cash-out for a project like a renovation,” said Lemon. “This service not only benefits our broker partners but also significantly improves the experience for our valued customers.”
The FASTRefi service is seamlessly integrated into MA Money’s toolkit, which will be enhancing its credit process through its 48-hour SLA for conditional approval.
MA Money specialises in residential loans geared towards customers that are in need of a flexible alternative that will match what they need.
