The provider of client management and compliance software has revealed that new business enquiries from intermediaries are at a similar level to those of the corresponding quarter in 2007.
The company has also experienced a particular interest in its call recording software, which many believe is one of the current hot topics in the industry as regulation seems more and more focused on the 'evidence' of advice. Using a PhoneStream box which simply plugs in between an existing phone and a BT socket, the software allows brokers to record and store all conversations they have with clients on the electronic file.
Paul Holden, sales director at MortgageStream, says that the new enquiries have been coming in from existing mortgage brokers as well as new entrants to the financial services industry.
"Many brokers are reporting robust levels of new business enquiries and have been seeking a back office system to manage their enquiry leads and for case processing. It seems as if the mortgage industry is climbing out of the slump and is looking to move forward at last.
“Several of our larger firms are actually expanding and have taken on additional licences for their new staff; we have also seen a number of previous users returning to us, saying that they can no longer manage with paper files and a multitude of spreadsheets. Also, the protection for a broker through the recording of a client conversation seems to be gaining importance in the market.
“This increase in activity is clearly good news for mortgage, life and insurance brokers and for the intermediary market as a whole."
