London packager forum will forge industry links

Mortgage Brain and the Mortgage Trading Exchange are to hold a packager forum in London on March 23 in association with Mortgage Strategy.

The event will cover all the key issues facing mortgage packagers in 2007. Top of the list of subjects covered will be how Mortgage Brain can help packagers develop their businesses.

The forum will also promote the MTE packager proposition which gives packagers access to up to 26,000 users at low cost.

Earlier this year at the Mortgage Strategy Packager Summit in Nice, sourcing systems were given the thumbs down by packagers who felt that the likes of Mortgage Brain and Trigold were not working in their best interests.

An impromptu vote among delegates revealed a unanimous expression of no confidence in all available sourcing systems. Mortgage Brain hopes this forum can change this attitude.

Mark Lofthouse, chief executive officer of Mortgage Brain and the Mortgage Trading Exchange, hopes the London forum will help to forge a new relationship bet-ween packagers and sourcing systems.

He says: “One of the reasons for this forum is to show that we are there for packagers and how our tool can work for them. It’s also to find out what they want from our system to improve Mortgage Brain. This is all part of our customer relations process.

“This event should help unite packagers. We think we are one of a number of organisations that could bring the market together.”

Ian McPherson, director of MortgageMatch Home Loans, says: “The sourcing systems out there are good but sometimes they don’t work well with niche or complicated sub-prime products. It’s not the fault of the sourcing systems – they have to play catch-up with lenders that constantly release these products.

“But some kind of sub-prime sourcing system would help.”