Trade bodies publish new lender & intermediary mortgage guide
An updated industry guide for lenders and intermediaries regarding mortgage sales and servicing – Working Together – was jointly published today by the AMI, the CML and IMLA.
The update brings greater clarity and transparency on how lenders and intermediaries work together on mortgage sales and administration once the Mortgage Market Revie rules are implemented on 26 April 2014. The new revised guide replaces the existing Working Together document which was published in October 2010.
The industry already does much of what is in the guide but the intention is to provide everyone – intermediaries and lenders – with a shared reference point and a clear description of good practice given the broad changes to regulation that the industry will see once MMR is implemented.
The guidance is aligned with both the FCA Handbook requirements and relevant Treating Customers Fairly guidance. It sets out good market practice and aims to promote high quality working standards, and the achievement of good customer outcomes, through productive collaboration between the lending and intermediary sectors.
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