Mortgage 2000 adds product watch to sourcing system

Mortgage 2000 has added a product watch facility to its mortgage sourcing system to help ease the problems encountered by brokers as lenders withdraw products at short notice.

The facility is updated everyday and accessed via a pop-up newscast on the main system screen. It carries details of all product changes known to be in the pipeline, alerting brokers of cases that will need urgent attention.

Alan Collinson, managing director of Mortgage 2000, says: “Our users were having trouble keeping track of lenders thatwere withdrawing products at short notice. We wanted to step in and play a part in finding a solution to these problems.

“Given the vast number of lender e-bulletins being issued, it’s easy to see how brokers could miss these direct notifications. By summarising the messages on the sourcing system screen, we’ve greatly reduced the likelihood of deadlines being missed.”

Steve Stavrou, owner of Mortgage Offers, a Mortgage 2000 user, says: “This is a helpful step. The first day this facility appeared I picked up a warning about the withdrawal of a product two of my clients were considering. I arranged to see each of them that afternoon, then completed the applications and submitted them to the lender in good time. Two pieces of business I’m not sure I would have written had it not been for Mortgage 2000’s product watch.”