Some brokers using The Mortgage Operation’s (TMO) sourcing software, TMOS v8.0, will be charged for the service, following a decision to bring in charges to cover the develop-ment of maintaining the system, writes Adele Burton.
Members have been informed of the levy which will be a monthly £25 fee plus VAT.
Mark Charlesworth, managing director of TMO, said: ‘Over the years we have distributed TMOS free of charge. But the continuing development to ensure it keeps up with technology and regulation has a price. We would like to continue providing TMOS free, but no company can sustain the quality of a service for no return. Those who complete three mortgages or secured loans each quarter will enjoy free access to TMOS via a full refund of their fees. A 60-day free trial is available for brokers to decide.’
TMO has improved the software by updating the ‘reasons why’ letter facility and auto-mating the audit trail brokers need to protect themselves.
‘Any new features added as a result of new regulation or changing market conditions can be patched over the internet,’ Charlesworth added.
• For a free copy, call 020 7571 2400.
