NEWS

Oxygen seen as 'super-packager' by leading Lender Mortgages plc has confirmed the emergence of a new breed of ‘super-packagers’ who are starting to dominate distribution in the non-conforming mortgage market. Peter Beaumont, Sales & Marketing Director at Mortgages plc, explains: “Since M Day we have seen a small number of ‘super-packagers’ or ‘super-distributors’ start to exert their authority in the packaging market. These companies include organisations such as … Oxygen Home Loans … all of whom are writing record volumes of new business. “These companies have invested heavily in technology, staff, training and have forged close working relationships with leading networks and, as a result, are starting to dominate distribution in the non-conforming sector. It is interesting to see some commentators, including trade publications who historically wrote-off packagers, start to change their tune and acknowledge the importance of this sector of the market. “At Mortgages plc 90 per cent of our packaged business is now being generated by less than 20 companies, a situation we are happy to see continue developing. These companies can deliver a high quality, fast and efficient service and can guarantee significant volumes of business. This development will inevitably put pressure on smaller regional packagers, many of whom will struggle to survive.” Excerpt taken from Mortgages PLC Press release as seen in Mortgage Strategy and Mortgage Introducer Magazine (29/04/05)   Updated Decision in Principle A new version of the online DIP will be released by the end of next week . The updated version allows brokers to part fill in the DIP and then come back to it after being interupted, running out of time or finding that they were missing some information This is a significant step forward towards full online case tracking and management.