Mortgage Brain’s Protector compliance solution, which was announced in November 2003, supports both ‘Principal/Appointed Representative’ and ‘Directly Authorised’ status mortgage introducers. Mortgage Brain was the first sourcing company to demonstrate KFI production in March 2004, and this, coupled with the overall compliance proposition, gave many of the big names in the industry the certainty and confidence they need to rely on Mortgage Brain.
The majority of the UK’s largest mortgage introducers and networks are now committed to using Mortgage Brain’s Protector, including:
Arun Estates
Mortgage Times
Bankhall/Point One/PMS
Newcastle BS
Chadney Bulgin
Norwich Union
Clear Cut
Pink Home Loans
Connells
Sequence
Friends Provident
Sesame
Mortgage Intelligence
SJP
Mortgage Next
Zurich
Commenting on the decision to select Mortgage Brain’s Protector solution Pam Hawkins, Senior Compliance Delivery Manager from Pink Home Loans said, “After an extensive review of the solutions available we selected Mortgage Brain as the best compliance service available to meet our needs. The ability to see real KFIs being produced and to have the information sent to our compliance centre in a fast and efficient manner is crucial to our future success.”
Trevor Galvin, Mortgage Proposition Manager, Friends Mortgage World states, “The compliance solution offered by Mortgage Brain is simply the best available and the product and service proposition is one we know we can rely on.”
Commenting on the take up of its compliance solution, Mark Lofthouse, Mortgage Brain CEO said, “Introducers have said they don’t want to cut corners or, even worse, not be compliant. Instead they want to offer comprehensive market coverage in a compliant fashion, and have accurate mortgage product information to give to their customers. We offer an easy to use, compliant system supported by help when it’s needed, and this gives introducers the certainty and confidence they want.”
He added, “Mortgage introducers can be sure that following extensive consultation and research, Mortgage Brain is not just ‘bulling up’ what is being done today but going those extra miles to deliver the most comprehensive compliance solution to introducers in the market in preparation for Mortgage Day this October.”
Mortgage Brain’s comprehensive compliance solution allows Protector users to access pre-populated Point of Sale compliance documentation, such as Initial Disclosure Document, Key Facts Illustration, Product Confirmation Letter, in a timely manner, together with an associated audit trail. Data captured and documentation produced at the Point of Sale can then be automatically transmitted to the compliance centre (or similar) within the company or supporting principal. Mortgage Brain has also placed considerable emphasis on the accuracy of the information its software contains.
In addition to the 10,000 mortgage schemes on its system being checked prior to distribution, mortgage lenders who account for in excess of 75% of mortgages placed in the UK are proactively verifying the key product information held on Mortgage Brain.
