MTE allows intermediaries who use either Mortgage Brain or the Mortgage 2000 encore sourcing systems to complete and send mortgage applications electronically into lender back-office systems.
Mark Lofthouse, CEO of Mortgage Brain, said: “To see so much transacted using MTE in such a short period of time is remarkable, and a credit to mortgage intermediaries.”
Merhdad Yousefi, head of intermediary mortgages for Alliance & Leicester, endorsed this view. He said: “Going into regulation we are feeling very bullish about MTE and the other electronic sourcing and trading systems. I believe that twelve months from now they will all play a dominant role in facilitating lender and intermediary relationships.”
