Money Partners reveals underwriting expansion

Amanda Jarvis

May 5, 2006

The changes to its broker-facing operational functions will take effect early in the summer. This will strengthen the specialist lender’s underwriting and processing capabilities across its mortgage and secured loans business streams.

The operational enhancements comprise the following:

* A new secured loans team will be formed to complement the existing teams. Post-change, this means the lender will be operating four teams dedicated to first mortgages and four to secured loans, each with a discrete broker bank.

* A new team leader position has been created to lead the new secured loans team.

* Two new team manager positions have been created with oversight of the mortgages and secured loan teams respectively. Both positions will report into Money Partners’ head of underwriting, Paul Simpson.

Recruitment is currently underway. Money Partners’ said it expects all senior roles to be filled by internal candidates, who will take up their new positions in June 2006.

Peter Brennan, Money Partners, operations director, said: “We have enjoyed a strong first quarter in 2006, recording our best set of results to date. The in-flow of new business remains very healthy despite continuing tough competition across all niche lending sectors. We’re responding to this by expanding our intermediary-facing operational capabilities to ensure our service delivery remains nothing less than first-class.”

He continued: “This task is made simpler because we’ve invested heavily in our employees through innovative skill-building and development programmes such as the Money Partners’ Training Academy. As a result, we have at our disposal a pool of talented and ambitious individuals now ready and able to step up to the plate.”

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