Mortgage Brain notes rise in Criteria Hub usage
Mortgage Brain has recorded an increase in Criteria Hub usage and an ESIS reduction.
According to the firm, weekly ESIS volumes are down 1.8%, with the reduction rising to 7.2% between 16 March and 23 March.
Meanwhile, Criteria Hub activity is up by 55% week-on-week.
The surge is suggested to be accountable to the introduction of a number of residential and BTL criteria, related specifically to the coronavirus, the firm said.
Furthermore, Mortgage Brain has allowed lenders to make Criteria Hub available to their BDMs for free.
Mark Lofthouse, chief executive at Mortgage Brain, said: “In these unprecedented times there will be fluctuations in usage of technology as the change to home working takes place and while we are able to report that weekly ESIS production has remained stable this is likely to change.
“Helping intermediaries and lenders to help themselves by using Criteria Hub instead of help desks is gaining traction.
“Coming together as an industry is vital at times like this and we’re happy to do our bit.
“The service that intermediaries provide helps their customers in their time of need and we must ensure advisers can continue to provide their services.”