Since 2008 NEXSYS Financial Inc. has been servicing the Canadian Mortgage Brokerage industry providing underwriting and fulfillment services to mortgage professional across the country. NEXSYS has decided to discontinue their brokerage channel division in favour of focusing on their lender back office services.
Effective immediately, NEXSYS’ Brokerage Services division will no longer be accepting applications from mortgage professionals. All remaining deals in the NEXSYS system will be processed through to funding.
Following is a message from NEXSYS CEO Mark Pooley:
“We are very pleased with the service we have been able to offer to the Broker channel. Our statistics have shown that our approach to underwriting, fulfillment and specifically document validation, has been prudent as we have been able to maintain an average lender funding ratio in excess of 80% with zero reported derogs on thousands of funded files over the last 5 years. Our focus has always been on prudent underwriting and with considerable lender interest in our document validation services and our associated software, we will be putting all of our efforts and resources into this emerging opportunity.”