Despite dire predictions from some industry commentators, TMA firmly believes that the packager concept remains viable during difficult market conditions as brokers continue to struggle placing non-standard cases.
The mortgage club feels that lenders still looking to write business in the non-conforming, self-cert and buy-to-let sectors will continue to use packagers as part of their controlled distribution channels, providing they have evolved their offerings and possess sustainable business models. TMA remains committed to providing its members with an array of good quality solutions to help combat current market conditions
TMTC was founded in March 2003 and is a founder member of AMPD. It has historically operated solely within the directly authorised market delivering high levels of service, elements which will further strengthen TMA’s proposition in the intermediary sector.
Business can be submitted to TMTC either on-line, by fax or paper application. Agreements can also be achieved by speaking to a member of the sales team. The TMTC proposition includes on-site underwriting support and dedicated underwriters situated with an array of lenders to assist with quick decisions and difficult cases. It also includes immediate payment of proc fees and extended withdrawal deadlines for packaged business.
Phil Whitehouse, Head of TMA, commented: “We are delighted to have formed this affiliation with TMTC as it is a company I know well and we are fully aware of the positives that it can bring to our members. Packagers have had a hard time recently but there is no doubt that there is still a place in the market for those offering a closer, more personal service and the ability to provide an array of suitable product solutions for brokers.
“TMA is all about providing choice and the addition of TMTC in just one step further in our quest to offer our members additional income opportunities whilst ensuring good levels of service.”
Tony Crossley, Director at TMTC, added: “The Mortgage Trading Company is delighted to enter into a relationship with one of the industry’s leading mortgage clubs. We have many years experience of dealing with the directly authorised market and even in these difficult times I believe packagers still have an important role to play in supporting brokers and enabling them to get the correct products for their clients. These are challenging times for all of us but we look forward to working hand-in-hand with TMA to enjoy a long and mutually beneficial relationship.”
