Mortgage technology business Mortgage Brain has launched a reference resource to help keep intermediaries up-do-date with product and policy changes being made by lenders due to the COVID-19 crisis.
The reference centre will be provided free of charge and can be plugged into the many coronavirus information hubs that are being set up across the market.
To assist brokers in keeping on top of these changes, an additional section of Mortgage Brain’s existing criteria-based sourcing system Criteria Hub has gone live, featuring three key data feeds.
The first, featuring frequently asked questions, will cover developments in lenders’ policies, such as changes to income assessments and the use of automated valuation models.
This feed has been constructed based on feedback from both intermediaries and lenders.
The second feed, updated daily, will highlight specific product changes made by lenders, while the third will consist of industry news stories.
Intermediaries will not be required to register in order to gain access.
This follows Mortgage Brain’s move to make Criteria Hub available to new customers free of charge for 90 days.
Mark Lofthouse, CEO of Mortgage Brain, said: “The mortgage landscape is moving at a rapid pace as a result of the pandemic, with intermediaries having to keep on top of vast numbers of product and criteria changes on a daily basis.
“We are committed to easing that burden by developing this single point of reference, arming them with the information they need to continue providing the advice and guidance which borrowers rely on.”
Richard Merrett, head of strategic development at Simply Biz Mortgages, added: “We are delighted to partner with Mortgage Brain in delivering a criteria, product and news feed to keep advisers informed as the market responds to the current challenges.
“The ability to capture all of this information in one place is a fantastic support resource to help with client solutions, and will save considerable time and effort in the research process.
“This fits perfectly with the ethos of our recently launched SimplyBiz Mortgages Solution Hub and will be crucial in allowing advisers to spend more time on helping more customers and creating as many good outcomes as possible.”