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AMPD opts for two platform providers

The Alliance of Mortgage Packagers and Distributors has revealed it is going to use two technology platforms.

AMPD originally advised that the 15 members would be considering the same technology platform, but decided it would be best to use two providers.

The group will use both Techlinx and Invent for its platform systems.

Eddie Smith, operations director for AMPD, says it became clear that one solution route was not going to be achievable – so it had to settle on two solutions.

Smith says: “The Alliance had originally aimed for one trading solution across the piece.

“We had no illusions that a one-fits-all solution would be easy to achieve.

“However, if we could bring it off then we knew it would make life easier for our premier lending partners and associated trading relationships especially in terms of full integration development and costs.

“Equally important in our decision making process was to ensure that the fifteen members did not face major disruption when replacing systems”


Limited free legals offer from Pink

Pink Home Loans is offering free legals on five of the most popular lenders on its packaged submission panel. The offer is open until August 31 2007 for all properties in England and Wales.

ECB ups interest rates to 5%

The European Central Bank has voted to up the interest rates by 25 basis points to 5% with effect from June 13 2007.The interest rate on the deposit facility will also be increased by 25 basis points to 3%, with effect from June 13 2007.The governing body of the Central Bank also decided that the […]

Brokers should offer the full service

Recent research by the Post Office has shown that UK home owners could be losing about 40m every year by taking insurance from their mortgage providers and not shopping around.

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