The call comes as Mortgage Brain announced MTE is now available to all mortgage intermediaries. Trigold welcomed the move but highlighted the need for more work to be done towards a full integration. The Council of Mortgage Lenders (CML) first proposed a true open trading platform back in 1997.
Trigold has proposed plans for brokers signed up to Trigold to have access to the MTE with Mortgage Brain users having access to Trigold’s Electronic Trading Centre (ETC).
Bill Safran, CEO at Trigold, expressed his support of a full integration between the MTE and ETC systems but views the MTE ‘stand-alone system’ as a half measure that adds no real value because the broker still has to re-key all client data, meaning they may as well go to the lender direct.
Safran said: “Trigold could make the same offer for open access to our trading platform but it just seems pointless when a full integration is easier to do and helps all brokers. It’s imperative that the integration is completely free to intermediaries; it makes no sense to charge a broker for sending applications online.”
Mark Lofthouse, chief executive of Mortgage Brain, said: “We’re always looking at the best way forward for all lenders to be made available to all intermediaries.
“Our aim is to provide brokers with a common trading platform; the problem at the moment is that we’re running on different platform operations which could run the risk of leading to an uncommon trading platform.
“I’ve spoken to Trigold on a number of occasions to attempt to secure an agreement. Our door is always open.”
