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Network aims to enlist 200 brokers

Norton Broker Services hopes to enlist 200 brokers during the first year of its secured loans packager network’s operations. The firm says it wants to bring stability to the secured loans market.

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Free leads on Mortgage Next’s packaged business

Mortgage Next is offering brokers a free mortgage lead for every mortgage case which is put through its packaging department. The scheme applies to all packaged business and will work on the basis of one free sub-prime lead being credited on completion, which will then be issued in bundles of five leads, to intermediaries, by […]

AMPD revamps payment system

The Alliance of Mortgage Packagers and Distributors has revamped its reporting and payment structure to guarantee members’ proc fees. AMPD members have committed to a set of payment standards that mean proc fees should be paid within 10 days.

Bank of England’s £50bn liquidity initiative leaves building societies and specialist lenders out in the cold

The Bank of England has launched its scheme to allow banks to swap temporarily their mortgage-backed and other securities for UK Treasury Bills, though the size of the package, estimated to stand at £50bn has not been confirmed, and it is not clear how the package will help the bulk of the UK building societies and specialist lenders have been left out in the cold.

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