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New charges brought in for use of TMO software

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  • 23/04/2002
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Some brokers using The Mortgage Operation's (TMO) sourcing software, TMOS v8.0, will be charged for...

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.


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