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TODAY'S OTHER NEWS

Irish association adopts Mortgage Trading Exchange to cut costs

The Association of Expert Mortgage Advisors (AEMA), which accounts for almost half of all mortgage broker business in Ireland, has announced that it has adopted Mortgage Trading Exchange (MTE).

The move is part of the association’s initiative to target some of the €12 million in cost savings over the next four years that the Irish broker and lender industry could achieve if all adopted an industry-wide online mortgage submission platform.

The Mortgage Trading Exchange is a Mortgage Brain product which allows brokers and lenders to efficiently complete, submit, track and administer AIPs and Full Applications online.

Trevor Grant, Chairman of AEMA, said: “We have identified the urgent need to migrate to a digital process and in doing so, drive more efficiencies and improved levels of customer service in our business.”

Mark Lofthouse, CEO of Mortgage Brain, adds: “Irish brokers are clearly embracing the use of mortgage technology. The estimated €12 million in savings that the Irish mortgage industry can make by adopting MTE is incredibly significant.” 

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