With filters specifically designed to accurately source non-confirming products, including CCJs, IVAs and bankruptcies, the Premier Edition’s enhanced adverse sourcing module, combined with its ‘whole of market coverage’ comprising 46 lenders plus packagers, claims to offer intermediaries the most sophisticated non-conforming sourcing tools available today.
Mortgage Brain’s Premier Edition adverse proposition, which incorporates free client credit reports from credit reference agency, Experian, now offers a complete non-conforming solution encompassing: comprehensive IDDs, detailed fact finds, verified product details, verified and checked KFIs and electronic trading. This is all integrated with the Mortgage Trading Exchange (mte).
Mark Lofthouse, CEO of Mortgage Brain, commented: “The adverse sourcing filters have been designed based on feedback and input from the industry. The specialist lending market is extremely complex, particularly in a regulated environment and the enhancements we have made to the module will streamline the whole of market mortgage sourcing and sales process for the benefit of our customers.”
The latest version of ‘Premier Edition’ is currently being rolled-out and will be available to all mortgage intermediaries by the end of the month, covering all of the major market areas including mainstream, buy-to-let, let-to-buy, self-cert plus adverse and light adverse.
“We spent a great deal of time talking to our customers and partners to ensure that this next generation of Mortgage Brain will exceed expectations. The feedback and comments we’ve received to date have been incredibly encouraging”, concludes Mr Lofthouse.
The latest version of ‘Premier Edition’ includes:
- Improved adverse filters for the whole of market (All lenders plus packagers)
- Upfront filters incorporating CCJs, arrears, IVAs and bankruptcies
- Extra data added to scheme details, including lender criteria for:
- IVAs that have been satisfactorily conducted
- Maximum number of CCJs allowed per applicant
- Maximum value of CCJs allowed per applicant
- Improved adverse product information in the scheme details, preventing the need for underwriting clarification
- Greater validation of adverse data to ensure accuracy of product information
- Direct link to Experian
- Microsoft Vista ready
