The Mortgage Code Compliance Board (MCCB) has launched a website allowing brokers, lenders and consumers to view the organisation’s activities and key commitments.
The site is divided into two sections, one aimed at mortgage professionals and the other at consumers.
The practitioner sections include a page providing updates and news on regulatory issues; a press and publications page providing copies of the Code and related documents plus MCCB newsletters and press releases; and a Good Practice Notes page that promotes findings and initiatives aimed at raising standards in the mortgage industry.
The consumer section comprises pages on the Mortgage Code, the role of the MCCB, a list of registered lenders, consumer rights and complaints procedures, frequently asked questions and useful contacts.
l Luke March, chief executive at the MCCB, has outlined plans for enhancing consumer protection through the Code, including the regulation of electronic mortgage selling. He said the Board was taking steps to improve consumer protection through the promotion of training and competence requirements and by ensuring the Code offers adequate protection to consumers purchasing e-mortgages.
The Board has formed an E-Mortgage Working Party to address the issues surrounding online mortgage sales and compliance and is also undertaking a research project on e-mortgages and current standards in online sales.