The conflict was sparked by a recent series of GMAC adverts which proclaimed the lender ‘The undisputed champion’.
BM Solutions challenged GMAC to prove this, claiming the argument could only be settled by independent market analysts CACI who specialise in providing consumer data for most of the mortgage industry.
While BM Solutions do provide data for the service GMAC-RFC withdrew over a year ago.
An anonymous source claimed GMAC had to withdraw because the quality of its data was not good enough.
However Jeff Knight, head of marketing services at GMAC, said: “We withdrew from CACI because we felt the data and service did not meet our requirements.”
Michael Bolton, head of BM Solutions and Halifax intermediary business, said: “BM disputes GMAC’s ‘undisputed champion’ claim. They may be the undisputed lightweights but let me assure them there are others out there who are punching harder in a higher division.”
Knight responded: “There are many challengers who don’t like the fact that we are champions but our business volumes speak for themselves. This is also about our rate being the most competitive and our online system offering a binding decision.”
Peter Beaumont, sales and marketing director at Mortgages plc, commented: “Although we can confirm we are not currently the biggest specialist lender, the number of KFIs issued since our new product range was released has increased by 400 per cent. So watch out.
