Non-conforming lender, Kensington Mortgage Company, has brought out the first of several practical monthly guides to regulation.
It is the first in a series of research aids for brokers which will include e-mail news bulletins and dedicated website pages, with regulatory Q&As and a discussion board.
Keith Street, director of sales at Kensington, said: “Our feedback tells us that what a number of brokers really need is practical help in interpreting this information and delivering compliance procedures.”
Buildloan launches commercial loan arm
BuildLoan, the intermediary arm of self-build lender BuildStore, has launched a commercial loan service, funded by Bishopsgate Mortgage Corporation.
The residential self-build specialist has launched into commercial development finance, offering maximum loans of £750,000. The loans are available through several mortgage clubs and networks.
Network Data opens northern network recruitment office
Financial Services Group, Network Data, has opened an office in Crewe.
The office in Crewe Business Park, manned by two new compliance officers, will process appointed representative network applications and co-ordinate its burgeoning regional compliance teams.
Network Data is still recruiting compliance officers to oversee its 750 network members.
Enterprise joins RAMP
Enterprise Home Loans has joined RAMP, the Regulatory Alliance of Mortgage Packagers. Consequently, RAMP expects to do another £500 million of non-conforming business during 2004, taking it up to £3.5 billion. one in three of all sub-prime mortgage completions in the UK.
Meanwhile, the older packaging co-operative, the Professional Mortgage Packagers Association (PMPA), which according to its own estimations processed £8 million of mortgages last year, has joined trade body AMI.
