Ernie Reeves, managing director at Phoenix, producer of ‘Place-Me’ - a non-conforming sourcing system - explained that while broker awareness of the non-conforming market was rising, specialist sourcing systems would help to eradicate broker concerns over the market’s complexity. Reeves said: “The reason we designed Place-Me was that as brokers, it was impossible to source non-conforming with any accuracy.
“Given the importance placed by the FSA on correct advice, it is even more important to make sure that customers are getting the right advice. Our system is being used by, amongst others national packagers and brokers.”
Kelvin Cooper, managing director of Solent Mortgage Services, said: “We needed software for our satellite branches and BDMs to ensure that we would be able to help our brokers source the best non-conforming deals from which to make a recommendation to their clients. “Place-Me is the only system which covers the very complex non-conforming arena comprehensively.”
Bill Safran, CEO at Trigold, who recently launched the enhanced non-conforming sourcing module (ENC), said: “Non-conforming sourcing systems are here to make what was previously thought of as a complex area easier for brokers.”
Rod Murdison, proprietor of Murdison and Browning, said: “The non-conforming market is potentially a lucrative one, any way to break down barriers and make it easier for brokers is most welcome.”
Reeves added: “I expect non-conforming business to continue to increase with more lenders dipping their toes into the market and greater interest coming from Europe and especially America. This will be good news for brokers.
“Margins may get squeezed but more choice and technology will inevitably make life easier.”
