The Council of Mortgage Lenders is developing a training package to help lenders get staff and their intermediaries up to speed with mortgage regulation, Mortgage Strategy can reveal.
Although the initial package will be aimed at lenders, the CML is considering a similar programme for intermediaries.
The package will be modular in form to allow different companies select the training most relevant to them. The CML has commissioned business training experts Absolutely Training to develop the material.
A top-level memo from the CML seen by Mortgage Strategy states: “Now that the FSA's consultations have begun again we thought it was time to renew our discussions with Absolutely Training.
“The feedback statement to CP98 contains three sections of “near final” rules, which the FSA is unlikely to amend. It seems appropriate to develop a training package on these rules, and to add further modules in due course.”
The CML is inviting members to join an editorial group to discuss the content of training materials.
Richard Hurst, communications manager at Future Mortgages, comments: “This is a positive step from the CML, which should support our existing internal training programmes.”
And Geoff Knight, mortgage marketing manager at Sun Bank, adds: “Assuming the training is concise and understandable, it sounds pretty good to me.”
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