Mortgage Brain buys rights to EdgeV2 system
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Mortgage Brain last week bought the intellectual property rights of rival sourcing system EdgeV2 from the administrator of Enterprise Group.
All current EdgeV2 users will be offered the original Mortgage Brain sourcing system or given the opportunity to be early adopters of the new Mortgage Brain system.
The revised system will allow brokers to conduct around 90% of the mortgage search and selection process on a single screen.
As Mortgage Strategy revealed, Enterprise Group and its subsidiary companies Enterprise Broker Services and EdgeV2 were placed into administration last week although Enterprise Finance is to continue trading.
Mark Lofthouse, chief executive officer of Mortgage Brain, says: “EdgeV2 has a loyal customer base and we are pleased that this acquisition will allow us to provide those users with a way forward by giving them a market-leading solution in a timely manner.”
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