Mortgage Trading Exchange sees transaction volumes of over £5bn

Mortgage Brain and Mortgage 2000 have announced transaction volumes exceeding £5bn per year through the Mortgage Trading Exchange.

The companies say that MTE has fast become the favoured route for introducers to electronically submit mortgage applications and AIPs direct to lenders.

Mark Lofthouse, chief executive officer at Mortgage Brain, says: “To see so much transacted using MTE in such a short period of time is remarkable, and a credit to mortgage introducers. They&#39ve certainly embraced the opportunity to share in the e-trading advancements of slicker business processing and are finding they can now provide an even better service to their clients.

“With the advent of regulation we are confident that this electronic connectivity will only grow in use and importance as introducers switch on to an easier way to obtain key information and decisions.”