Mortgage Brain launches secured loan sourcing system

LoansBrain enables brokers, in accordance with the new MCD rules, to source a range of products from secured loan lenders.

Mortgage Brain is also rolling-out its MCD ready systems for mortgage sourcing and point-of-sale and compliance.

MortgageBrain Classic and MortgageBrain Anywhere have been enhanced to accommodate the new requirements and feature a number of new enhancements and capabilities.

Available now, the two systems give brokers the choice to produce the new ESIS illustrations and/or the new KFI documentation, and elect to set either ESIS, KFI or the documents produced by the lender, as the systems default illustration shown on the screen.

Other enhancements include filters for Foreign Currency mortgages, Consumer BTL products, re-mortgage registration fees and a historic Annual Percentage Rate Charge capability.

Mark Lofthouse, CEO of Mortgage Brain, commented:

“The roll-out programme for our new MCD ready systems has been underway for some time now and we’re delighted that all our systems are ready and available in advance of the implementation of the Mortgage Credit Directive.

“The new enhancements we’ve made to our sourcing and point-of-sale systems are a result of our continuous investment programme and further demonstrate our commitment to delivering the best technology for brokers.”