The packaging community has given sourcing system Trigold and Mortgage Brain a vote of no confidence, claiming that their systems are not up to the standard they require.
When asked whether either sourcing system was a useful tool in the packaging process, every packager at this year’s Mortgage Strategy’s Packaging Summit conference voted against both, calling instead for an all encompassing ‘super platform’ to satisfy their sourcing needs.
Kevin Friend, strategic partnership director at Primrose, says: “Trigold and Mortgage Brain have failed miserably in the sub prime market.”
Frank Eve, managing director of Frank Eve Consulting, added: “It is obvious from the vote of no confidence that there is a huge gap to provide sourcing services.”
And Richard Griffiths, chief executive of Network Data, says: “If Trigold and Mortgage Brain were to merge, I would be very uncomfortable if I were a lender. Lenders need to be engaged if a successful sourcing system is ever to be developed.”