Alliance & Leicester provides clear stance on KFI accuracy

Amanda Jarvis

October 29, 2004

Alliance & Leicester will be using in-house staff to verify all product data supplied to mortgage sourcing systems.

Mehrdad Yousefi, Head of Intermediary Mortgages at Alliance & Leicester said: “We will be ensuring that our information is 100% accurate before it is submitted to sourcing systems. However, the accuracy of how the information will appear on the sourcing system will depend upon the quality of technology and the staff who manually input the information.

“It is not entirely clear who will be responsible for the accuracy of data on online sourcing systems and Alliance & Leicester is keen to provide a clear stance on where we stand as early as possible.

“Responsibility for accuracy on online sourcing systems remains a grey area in the mortgage market and we have been in talks with the major system providers to iron out any potential obstacles. The problem we have is that once our data has been handed over to the sourcing system, we have no control over how it is entered, hence we cannot guarantee that the information will remain accurate.”

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