Mortgage News
MTE processes over 200,000 applications in 2010
Mortgage transactions, including AIPs and full applications, rose by 8% in 2010, reported the Mortgage Trading Exchange (MTE.
Over 200,000 mortgage transactions took place last year, compared to 186,413 transactions in 2009.
March witnessed the largest volume of transactions with 20,645 being processed – the highly monthly figure since February 2008.
Mark Lofthouse, chief executive officer of the MTE, said that the trading platform saw a significant increase in the number of brokers using the system.
“We have seen 15% more brokers use our system to process applications and we forecast that it will double by the end of 2011.”
He added the figures demonstrated the business value derived by brokers who use the MTE.
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He said: “To see an 8% increase in mortgage transactions processed via the MTE is an example of the positive moves that have been made over the past 12 months in a declining market.”