A last weeks Mortgage Brain compliance forum (March 4), some of the UK’s major corporate mortgage clubs, networks and introducers, including Charcol, Countrywide, Friends Provident, MaketPlace, Mortgage Intelligence, Mortgage Next, Norwich Union, Pink Home Loans, Sesame and St James Place and saw for the first time, KFIs being produced using information from any of the 9,000 mortgage schemes currently supported on the Mortgage Brain sourcing system.
The KFI is a key piece of mandatory documentation that introducers must supply to their clients before submitting an application, and this can be obtained directly from their sourcing system or the lender. Mortgage Brain’s compliance solution offers introducers a seamless and more efficient way of obtaining KFIs either via the sourcing system (within the set FSA tolerance guidelines) or using an electronic link with the lender.
Mark Lofthouse, Mortgage Brain’s CEO commented, “Mortgage Brain is absolutely committed to providing KFIs within the stated 1% tolerance level, to our 19,000 customers. We are delighted to be the first mortgage sourcing software company to turn promises into reality and demonstrate this crucial capability. Mortgage introducers can be sure that we are going extra miles to deliver the most comprehensive compliance solution in preparation for Mortgage Day on 31st October 2004.”
David Bitner, Head of Product Operations, Bradford and Bingley attended the Forum and like the others was very impressed with what he saw. He commented, “With mortgage regulation rapidly approaching we, like many others, need a comprehensive compliance solution, that we can be confident will deliver now and for years to come. Mortgage Brain’s capability more than fits the bill. Not only does it offer an unsurpassed level of product certainty and confidence, but as proved by this demonstration, it can produce KFIs, in a simple and efficient manner.”
