Mortgage Brain has launched a new single reference point for intermediaries to help them keep up to date with product and policy changes being made by lenders amid the ongoing coronavirus pandemic.
The mortgage technology expert suggested intermediaries have had to grapple with significant changes across the industry since the crisis took hold in the UK, with dramatic reductions in the number of mortgage products available, as well as significant changes being made to lenders’ policies and criteria for new and existing customers.
A new section on Mortgage Brain’s existing Criteria Hub site has gone live to assist brokers in keeping on top of these changes, which features three key data feeds. The first feed will be a set of FAQs covering developments in lenders’ policies, such as changes to income assessments and the use of automated valuation models.
The second feed, updated daily, is to highlight specific product changes made by lenders, while the third will consist of industry news stories.
Mortgage Brain CEO, Mark Lofthouse, commented: “The mortgage landscape is moving at a rapid pace as a result of the pandemic, with intermediaries having to keep on top of vast numbers of product and criteria changes on a daily basis.
“We are committed to easing that burden by developing this single point of reference, arming them with the information they need to continue providing the advice and guidance which borrowers rely on.”
SimplyBiz Mortgages head of strategic development, Richard Merrett, added: “We are delighted to partner with Mortgage Brain in delivering a criteria, product and news feed to keep advisers informed as the market responds to the current challenges.
“The ability to capture all of this information in one place is a fantastic support resource to help with client solutions, and will save considerable time and effort in the research process.”
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