RAMP and AMPD will battle for members after plans to form a unified alliance were scrapped.
John Rice, managing director of the Regulatory Alliance of Mortgage Packagers, has shelved plans for a single association and will instead focus on growing RAMP’s membership from 10 to 15 packagers.
Rice says: “Nobody is immune to the changes taking place in the industry and while we have looked carefully at the prospect of forming ties with other packager groups we have decided that the best way forward is to grow our membership. We are looking forward to welcoming new members and ensuring RAMP is in a robust state to meet the challenges of today’s market.”
Nick Battersby, compliance director at RAMP, is to leave the association and is in talks with a compliance firm. Battersby says it is too early to give details about the firm he’s joining but once he has done so, RAMP will outsource its compliance operations to it.
John Mawdsley, spokesman for the Alliance of Mortgage Packagers and Distributors, says that to create a unified alliance would have been challenging and that his association is on the hunt for members too.
He says: “It would have been hard to get everyone to reach a compromise. All the alliances have different things to offer. We are looking for more members at AMPD.”
Helen Hymos, acting chairwoman of the Professional Mortgage Packagers Alliance, says it is talking to members about the direction it should take.