The Mortgage Alliance (TMA) and Compliance Checking Ltd have formed a strategic partnership to offer directly authorised intermediaries access to an exclusive deal on the latter’s file checking service which can be customised to individual firm’s compliance requirements.
TMA says the MMR will place greater emphasis on mortgage distribution which means that the regulator and lenders will require greater confidence in an intermediary firm’s compliance procedures. TMA believes that the nature of file checking will enable intermediaries to establish a good quality and cost effective solution.
Compliance Checking is a technology based solution aimed to improve intermediaries’ ability to proactively manage and report on key compliance and business risks. The mortgage club has negotiated a discount for all DAs placing business through TMA which equates to a 12.5% reduction on every file checked.
Phil Whitehouse , head of TMA, said: “It’s pretty clear that the regulator has really begun to bear its teeth in terms of the sheer volume of fines and enforcement action which have been issued in recent months. This illustrates that firms
