The Mortgage Funding group, which will be open to an industry-wide membership not just IMLA members, will be a common interest group concerned with restoring liquidity in the mortgage market. This group will be launched in early 2010 under the chairmanship of Tony Ward. Further details of membership will be announced in due course.
Commenting on the Mortgage Funding group, Tony Ward said: ‘There are signs of some recovery in the wholesale funding markets, but a very evident and significant shortfall in mortgage funding remains, and that is impacting on all parts of the mortgage market, but in particular non-bank lenders and building societies. It is our aim to identify barriers and weaknesses, propose solutions and lobby key constituencies to address them. We will develop the Mortgage Funding Group in the coming weeks and hope that in 2010 we will see a continued and sustainable recovery in the funding markets.”
