Accord Mortgages is to become the latest lender partner of mortgage sourcing provider Mortgage Brain.
Lender partners have the opportunity to proactively verify key mortgage product features as displayed on the Mortgage Brain sourcing system, and it is the only system to offer this capability.
Accord will begin to verify its products later this year, and is also in discussions to make its mortgage application process available through the trading and compliance platform, Mortgage Trading Exchange.
Development will commence with immediate effect and launch live to intermediaries during 2004.
The company will follow Alliance & Leicester, Halifax, Nationwide, Northern Rock and UCB, who are all now accepting electronic mortgage transactions via the Mortgage Trading Exchange.
Mark Lofthouse, CEO at Mortgage Brain, says, “This agreement with Accord shows that being able to verify product information as well as accept electronic applications has become an integral part of business strategy for many lenders.
“As the industry moves into a regulated environment, accuracy of information, Key Facts Illustration production, cost and administration have never been more important, and being a lender partner helps address these key issues.”
And Linda Will, managing director of Accord Mortgages, says: “Accord Mortgages already receives over 60% of applications online and the company looks forward to increasing this through links with the Mortgage Trading Exchange.”