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mte increases market share
9 October, 2008
The Mortgage Trading Exchange (mte), the common trading platform, has increased its market share of all mortgage transactions processed in the UK by over 43% in the year to June 2008.
Commenting on the success of the platform, Mark Lofthouse, CEO of the Mortgage Trading Exchange, said, “This is a fantastic achievement. With over 70% of the UK’s lenders and leading packagers live, and its availability to all mortgage intermediaries, the mte is now responsible for processing circa £50 billion worth of mortgages per year, which makes it the largest single delivery channel for mortgage placement in the industry.
The Mortgage Trading Exchange provides an industry-wide means of accessing and transacting KFIs, AIPs and Full Applications between intermediaries and lenders. The platform is available to all mortgage intermediaries, regardless of what sourcing software system is used, and allows them to trade electronically with committed lenders who account for over 80% of the UK mortgage market.