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TMA teams up with TMO

The Mortgage Alliance has chosen TMO to be its sole packager.

TMA members submitting business to TMO, under the TMA umbrella, will qualify for enhanced proc fees on TMO’s near-prime and sub-prime packaged panel products.

Jon Haynes, director at TMO, says: We are delighted to have been chosen by TMA as their sole packager of choice. Feedback from existing TMA Members, currently using TMO and other packagers, played a significant part in influencing the decision. Its testament to our excellent service proposition.

John Coffield, head of TMA, says: After a rigorous selection process TMO demonstrated clearly their commitment to bringing a first rate proposition to the TMA members, and we are delighted to be working in partnership with TMO. This will significantly improve the packaging offering. Direct submission and packaged routes can exist in tandem and we are determined to ensure our members receive first class service and products.


Consumers could pay price for COB changes

KPMG is warning that financial services firms and ultimately consumers will pick up the bill for proposed changes to the regulator’s Conduct of Business rules. KPMG believes the Financial Services Authority has underestimated how much changes to COB will cost the industry and that the true figure will be far higher than it says. Bernadine […]

Countrywide eyes overseas opportunities

A few weeks ago, in preparation for a special issue of National Mortgage News that was to be shipped to the annual Mortgage Bankers Association convention, I sought interviews with the CEOs of America’s two largest lenders – Countrywide Home Loans and Wells Fargo Home Mortgage. For years, these two shops have battled to be […]

West Brom offers 100% rental cover

West Brom for Intermediaries has reduced the standalone rental cover requirement on its buy-to-let product range from 120% to 100%.The standalone calculation specifies that monthly rental must cover 100% of the monthly payment at a notional rate of Bank Base Rate plus 1%, on an interest only basis. Any rental shortfall can be topped-up using […]

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Absence management systems gone AWOL from UK’s SMEs, reports Jelf

A quarter (23 per cent)* of the UK’s small to medium-sized enterprises (SMEs) do not have an absence management system in place, according to new research from Jelf Employee Benefits. Despite 69 per cent* of organisations having a system in place, three-quarters (75 per cent) report that it is not providing them with sufficiently empowering absence or health data to inform an effective wellbeing programme.


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