Twenty7Tec Group has stated that it has completed the required developments to enable its systems to be fully compliant with the forthcoming Mortgage Credit Directive (MCD).
The changes to the system required by MCD are now live, including the production of KFI + and ESIS documentation, in line with each lender’s own individual guidelines. All lenders in MortgageSource switched to KFI + production in January, while those lenders who have elected to use the ESIS alternative have now been converted to ESIS production. Furthermore, an additional filter has been added to denote whether the intermediary is sourcing for a Consumer Buy To Let product.
The first said the latest updates to MortgageSource are already live in the companies ‘standalone’ web based system, while those users who access MortgageSource via one of the many CRM integrations available, are being upgraded imminently by their respective CRM partner.
MortgageSource provides sourcing from one single platform for mortgages, secured and bridging loans, and the ability to compare remortgages against second charge lending options.
Jorge Monte, product director for MortgageSource at Twenty7Tec, said: “We have been working tirelessly for the past 12 months to deliver the most comprehensive solution available to Intermediaries operating in the post MCD world, and we are delighted to have completed this project.
“Our thousands of users have reacted well to the developments that we have completed and we look forward to announcing further enhancements to our systems shortly.”