OnDeed for Lenders.
OnDeed makes the business of managing MIPs, property improvements and sales simple, efficient, and free from regulatory compliance risk
OnDeed Manages Your Risk.
Provides complete control over every step in every process
Internal staff or third-party vendors
Live dashboard monitors performance against SLAs
Customisable Delegations
Hosted securely with Amazon Web Services with complete data encryption
Portal is a completely enclosed system
Multiple third-party independent security and integrity assessments
Data Security
Eliminates duplication and promotes operational efficiencies with reduced FTEs
Manages all stakeholder workflows
Operations dashboards show the status of all live tasks
Interactions & Processes
Fully compliant with ASIC regulations (RG271)
Complete Internal Dispute Resolution (IDR) process included
Full APRA reporting
OnDeed is a complete governance and compliance framework
Central data repository
Governance & Compliance
Mortgagee in Possession: Sales Process
The OnDeed system is geared to maximise the profit potential for all stakeholders.
OnDeed empowers lenders with the information required to make an informed decision regarding each property.
The OnDeed system give lenders numerous options for selling a property asset.
Initial appraisals are conducted using desktop research or roadside inspection to give the lender a quick indication of the property's value.
1. Indicative Value
Agents take possession of the home (by eviction, surrender or abandonment). Preliminary assessment and meth testing of the property is conducted, with remediation carried out as necessary.
2. Mercantile Agent Appointed
3. Abandoned Goods Handled
Abandoned goods are dealt with appropriately with all legal notices issued to the borrowers.
OnDeed can appoint the best-value and best-performing real estate agent. The engagement is based on either a tender or fixed-fee basis. Agents perform a Competitive Market Analysis (CMA).
4. Real Estate Agent (REA) Appointed
Accredited valuers conduct an accurate valuation of the property and recommend works for sale. All contents are also valued prior to goods disposal, collection from the borrower (if requested), or sale if valuable.
5. Property and Contents Valuation
OnDeed compiles the list of recommended works. If applicable, the lender's mortgage insurer is consulted to finalise the work to be carried out.
6. Mortgage Insurer Notified
OnDeed engages and manages all trades to completion, securing multiple quotes per trade to ensure the best outcome for the borrower and all stakeholders.
7. Property Renovation & Maintenance
The property is prepared and put on the market with the option of Auction or Private Treaty. Weekly progress reports are provided to the lender.
