Commenting on this success, Mark Lofthouse, CEO, Mortgage Brain said: “To see so much transacted using The Mortgage Trading Exchange in such a short period of time is remarkable, and a credit to mortgage introducers. They’ve certainly embraced the opportunity to share in the e-trading advancements of slicker business processing and are finding they can now provide an even better service to their clients.”
He added: “With the advent of regulation we are confident that this electronic connectivity will only grow in use and importance as introducers switch on to an easier way to obtain key information and decisions.”
Sean Hornsby, Managing Director, Mortgage 2000added: “We all know that the level of electronic business will increase substantially over the coming months. To have reached this milestone through a mortgage trading platform, is just further evidence of the impact the MTE will have on the delivery of business to participating lenders.”
He added: “The future is looking extremely bright for the MTE, lenders, and most importantly the intermediaries who use the system”.
Lenders who are fully live now account for over 50% of the UK mortgage market. These are: Alliance & Leicester, Bank of Scotland, Halifax, Nationwide, NatWest, Northern Rock, Royal Bank of Scotland and UCB with One Account and The Woolwich now in pilot. Lenders who are committed to the MTE take this figure to over 80% of the market and include: Accord, BM Solutions, Cheltenham & Gloucester, Chelsea, Coventry Building Society, Furness, Norwich & Peterborough, SPML, Standard Life Bank, The Mortgage Business and Tipton & Coseley.
The Mortgage Trading Exchange is available to subscribers of M2000 Encore or Mortgage Brain’s Broker Version 5.
