You are here: Home - News -

Packagers in state of confusion, says forum

by:
  • 05/09/2002
  • 0
Mortgage packagers are calling for more clarity over their future role, and a stronger voice in the ...

Mortgage packagers are calling for more clarity over their future role, and a stronger voice in the consultation process, according to feedback from an SPML packager forum. Stuart Aitken, director of credit at SPML, said: ‘Whichever way the regulated/non-regulated divide finally falls, it is bound to result in a major shift in mortgage market distribution, so packagers, lenders and advisers all want to be as prepared as they can. As a lender, we realise that many packagers feel under-informed on regulatory issues and do not feel they have an effective voice when it comes to the decision-making process.’

But, Victor Jannels, director of the Professional Mortgage Packagers Association (PMPA), felt many packagers do get their voice heard. He pointed out that while PMPA is not interested in becoming a regulatory body it consists of ‘like minded packagers all doing meaningful amounts of business’ and, as a result, is able to make their views known. He added: ‘We can go to the regulators and say we feel that packaging should be looked at from an FSA point of view. We have made a lot of headway in this. Ian Nelson, the chairman of PMPA is on the advisory council for both the Mortgage Code Compliance Board and the Council of Mortgage Lenders, dealing with the interests of packagers and also talking to the FSA. So, we are making our points felt with the people who are decision makers in the industry.’


Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @ashridgepf: Well what a surprise! We love our clients and they obviously are quite fond of us. Mortgage applicants find humans more r…
  • RT @DanielleDennis9: Always love reading through the tweets of the year every December! Have a look through to recap on a great year https:…
  • RT @mortgagestall: Great to see the hard work brokers put in is getting ever-more recognised https://t.co/cg4ZaJzZJZ
Read previous post:
Government building homes for cash-strapped key workers

Government aims to meet rising demand for affordable property by injecting £1.4bn into new homes

Close