RAMP was set up in 2003 bringing together members of the packager community to provide a forum to address the regulatory issues facing the industry come 'Mortgage Day'. RAMP had previously hinted that it may look for another member after c2 Financial was expelled from the alliance earlier this year.
John Rice, managing director of RAMP, explained that when the alliance was set up it was never its intention to continue to increase its membership levels simply for the sake of becoming the biggest.
He said: "Quality and solid relationships with our lender partners are more important to us. We feel that RAMP has reached a point where the exclusivity of the group is working well, both in terms of decision-making and regulatory support for each member."
"Exclusivity and the quality of membership are paramount and of course the question of new membership at some stage in the future would not be ruled out if the circumstances were right," Rice added.
John Mawdsley, director at The Mortgage Partnership, said: "It sounds like this is a sensible move by RAMP. Any organisation could be devalued if it opens itself up too much and loses its exclusivity."
Vic Jannels, director of the Professional Mortgage Packagers Alliance (PMPA), agreed. "We review our membership regularly. According to what's happening in the market, we'll make the decision to either increase or decrease our member numbers."
