MMR costs in the millions: Phoebus

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Phoebus Software has warned that the cost to the mortgage industry of preparing for MMR is likely to be in the millions of pounds.`

It cites the FSA’s recent feedback and final policy on Arrears and Approved Persons in the Mortgage Market Review update which said: “One TPA stated one-off costs for following this guidance of £1.6m for system development

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