Phoenix to launch non-conforming sourcing system at Expo

Ramesh Sharma

June 1, 2004

Phoenix CPU was founded in 2002 and aimed at developing software for the accurate sourcing of non-conforming mortgages. It has built up a user base of over 300 brokers as well as national packagers including Exclusive Connections and Solent Mortgage Services and is using the Expo as a platform for a wider broker audience.

Ernie Reeves, director at Phoenix CPU, said: “We have taken time to develop a sourcing system which is now the first choice for over 300 brokers who want a facility which sources non-conforming mortgages accurately from over 50 lenders.

“Packaging companies such as Exclusive Connections and Solent Mortgage Services only use our software in order to help brokers find the right alternatives from which to make a recommendation.

“Coming to the Expo is an opportunity to put our software in front of mortgage brokers. We are confident that after brokers download ‘Place Me’ software on a 14-day free trial they will realise what they’ve been missing.”

Matthew Arena, managing director of Exclusive Connections, commented: “Our members specialise in non-conforming mortgage business from a panel of 19 lenders and ‘Place Me’ is the only sourcing system we have found which adds value to our broker offering across such a wide range of specialist lenders.”

Bill Safran, chief executive of Trigold, which launched its enhanced non-conforming (ENC) sourcing module in December 2004, said: “Any tool that makes the adviser’s job easier should be welcomed and non-conforming sourcing systems are here to make what was previously thought of as a complex area a simpler one.”

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