PMPA defends its position on BMS

The Professional Mortgage Packagers Association has hit back at claims that it is undermining the wider packaging community by supporting BM Solutions.

Sub-prime packager The Finance Centre says the PMPA is wrong to back BMS&#39 &#39seal of approval&#39 campaign. Wayne Smethurst, senior partner at TFC, says: “For PMPA to back such a campaign is very naïve or a gross error of judgement. No organisation that claims to have the interests of packagers at heart should be involved in attacking other members of that community.”

But Jon O&#39Brien, group manager at PMPA, says: “We were simply informed that the PMPA logo would be included in an advert for the BMS campaign. Smethurst has got a few things wrong. He has intimated that only the PMPA has a relationship with BMS, but in reality the seal involves non-members such as Pink Home Loans and The Mortgage Operation.”

And Mark Charlesworth, managing director of TMO, says the TFC&#39s calls for a boycott of PMPA are poorly thought out.

He says: “How do you boycott something you&#39re not a member of? And you could argue that being a member of PMPA assists packagers who then have access to BMS products whereas individually they might not have.”