One of these was an update to'Compliance Manager', atool designed to deal with all of theprocedural and administrativeresponsibilities which are to be bestowed upon mortgage intermediaries by the FSA come M-Day on 1st November.
Atthe time, a clearcommitment for delivery sometime during the summer was given, andMortgage 2000 can now confirmthattheir intended completecompliance solution will beavailable as planned.
Managing Director, Sean Hornsby commented "I'm surprised by some of the recent claims madeby our competitors that infer that mass-market systems such as Encore will not be in place in good time to meet the challenges which face brokers in the new regulated environment. I'm happy to confirm that, whilst we are in no hurryto rush-out a half-baked solution, we will certainly be in place with what we believe will be the most sophisticated compliance management tool available.I would stress that being "accurate, advanced and assured" is not something new to Encore and these, plus many other qualities, will be clearly evident once Compliance Manager arrives in the marketplace."
Compliance Manager is added software that will guide an Encore user through thecomplete regulated salesprocess, ensuring thatallresponsibilitiesaredischarged and all customer records are storedin an entirelycompliant manner.It willfeaturean electronic audit trail which can be recalled and checked at any time, plus the production of the necessary documentation such as Initial Disclosure Documentsand Key Facts Illustrations. It will be provided to all Encore users at no additional cost, making the£23 monthly cost of Encore the most competitive in the country.
