Requirements checklist
What to ask for when choosing software for housing finance companies.
A checklist built from how housing finance companies work, to print or save as a PDF and bring to any supplier meeting.
What the software should cover
Tick each one that matters to your business.
- Applicant and co-applicant records
- Property and title file
- Valuation and site inspection
- Sanction and tranche release
- Instalment schedule and rate reset
- Collections, arrears and original papers
Roles that need their own access
Who logs in, and what each person may see or change.
- For sales officers
- For credit analysts
- For the legal team
- For engineers and valuers
- For operations and collections
Reports to ask for
Ask to see each one with your own sample data.
- Applications by stage and branch
- Files awaiting seller or builder papers
- Sanctioned against disbursed by month
- Tranches pending site inspection
- Instalments overdue by age band
- Floating rate loans due for a reset
- Original documents in custody by vault location
Systems it may need to connect to
Note which ones you already run.
- SMS
- WhatsApp or other messaging
- Bank transfer and standing instruction files
- Credit bureau data entry
- Accounting export
- Document scanner
Questions for any vendor
Put these to every supplier you are comparing.
- Does it cover only home loans?
- Can a tranche be blocked until the site is inspected?
- How does a floating rate change work?
- Can legal staff see what the seller still owes?
- How are original title papers tracked?
- Can the credit bureau report be attached?
- Do you set up our approval limits?
- What happens to the data we already hold?
- Who owns the loan records?
- What goes into the quote?
Where the work usually breaks today
Circle the ones you recognise. They set the order of the project.
- Property files are kept apart from loan files
- Tranche releases wait on site inspections
- Rate resets are applied by hand
- Original papers are hard to locate
- Insurance and charge filings lapse quietly
Prefer to talk it through? See the housing finance companies page.