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PMPA blasts lenders’ commitment

The Professional Mortgage Packagers Alliance has attacked lenders that have failed to deliver in terms of technology and working with packagers.

One rumour that swept the Mortgage Packager Summit was that the PMPA was referring to edeus but this has been denied.

Jon O’Brien, operations director at PMPA, says: “Some companies have been tight-lipped about their dealings with packagers. If they want to help us they must speak up. But some are in Nice only to pay lip service.”

Helen Hymos, lender relationship manager at PMPA, adds: “Some lenders have spoken out and want to work with us but more must admit they were wrong about packagers.”

Peter Charge, director of nat-ional accounts at edeus, says: “Edeus is renowned for its technology and we will be looking to develop technology solutions with our key packager partners.”

New lenders were also criticised for pushing credit limits in an attempt to gain ground in a saturated market.

Peter Beaumont, deputy chief executive of Mortgages PLC, says: “There are too many lenders entering the market without the experience to understand the risks.”

But John Prust, director of sales and marketing at Lehman Brothers, says: “It is condescending to lecture lenders. I welcome all new lenders.”

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