Mortgage Introducer exclusively revealed last month that AMI was launching a group focusing specifically on issues surrounding HIPs.
The trade body has described HIPs as one of the biggest risks in the industry and is concerned how HIPs will impact on the shape of the market.
It said it had been contacted by its members who were worried about what would happen if they did not have close links with estate agents.
AMI’s meeting this week was attended by industry figures from the mortgage, IT and legal sectors in a bid to clear up some of the question marks hovering over HIPs.
Chris Cummings, director-general of AMI, said: “The meeting focused on how HIPs will impact our industry. It was apparent there is still a lot of misunderstandings about HIPs and what role mortgage brokers can and will play in the process. Our objective is to cut through these misunderstandings. The problem is nobody is terribly clear what the final rules on HIPs will look like.”
Cummings revealed that AMI will be holding a meeting with the Office of the Deputy Prime Minister (ODPM) later this month to put across the concerns and interest of brokers over HIPs.
Paul Duckworth, managing director of xit2, which attended the meeting, commented: “There was a great exchange of views and it’s fantastic that AMI is taking a leading role in looking at the ramifications of the introduction of HIPs on intermediaries and on the wider broker market. xit2 looks forward to providing any support and assistance that AMI may require.”
