Mortgage Brain reports rise in use of Criteria Hub

Mortgage Brain has announced the use of its Criteria Hub has seen a marked increase in activity following the introduction of several residential and BTL criteria specifically related to the coronavirus crisis.

To date, 40 residential and 29 buy-to-let (BTL) lenders have provided information that the mortgage technology expert has published on Criteria Hub, with these figures expected to increase in the following days.

Mortgage Brain added that the response to its recent announcement to make the complete Criteria Hub proposition available to new customers for at least 90 days at no charge had resulted in an influx of new customers.

The technology specialist also revealed it had seen a reduction in ESIS produced from its mortgage sourcing systems of 1.8% in the week ending 22 March, in comparison to the average over the previous 9 weeks.
Mortgage Brain CEO, Mark Lofthouse, commented: “In these unprecedented times there will be fluctuations in usage of technology as the change to home working takes place and while we are able to report that weekly ESIS production has remained stable this is likely to change.

“Helping intermediaries and lenders to help themselves by using Criteria Hub instead of help desks is gaining traction.
“Coming together as an industry is vital at times like this and we’re happy to do our bit. The service that intermediaries provide helps their customers in their time of need and we must ensure advisers can continue to provide their services.”

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