Mortgage Intelligence teams up with AToM for complex prime

8 March 2010 | By Natalie Martin

AToM complex prime offers advisers an alternative route to placing business which may otherwise be declined due to lenders ‘credit scoring’ DIP systems. With funding from five lenders and deals available up to 75% LTV, AToM’s team of underwriters will make assessments based on the overall merit of an individual case. 

Sally Laker, managing director of Mortgage Intelligence Holdings, says: “We’re delighted to be the very first networks and mortgage clubs to have access to AToM Complex Prime and are certain that our members will find real value in this offering.

“AToM will consider good, clean cases with justifiable income that would otherwise be declined at DIP stage, offering a much needed opportunity for advisers to get the deal through.

“Maximising each and every piece of business is essential and if AToM can help place business that would otherwise be declined then it’s a win-win for advisers and their clients. I look forward to continuing to work closely with the AToM team and applaud them for their continued innovation in today’s market.”

Dale Jannels, sales and marketing director at AToM, says: “Having worked closely with Mortgage Intelligence Holdings since 2005, we are delighted they are embracing the AToM Complex Prime Initiative. As a distributor of large volumes of mortgage funds we were becoming increasingly concerned at the number of quality cases declined by the majority of lenders ‘black box computer says no’ mentality.

“There are many high quality deals being turned away simply based on credit scoring and this does not always reflect the high quality of many applicants. We are working closely with five lenders (four who do not credit score) and, if the case is clean, is provably affordable and is within 75% LTV we are often able to provide a solution.

“We have substantial funding available to us on this project and look forward to working with Mortgage Intelligence Holdings and their members on this exciting, and beneficial, project.”