The move is part of AEMA’s initiative to target some of the €12 million in cost savings over the next four years that the Irish broker and lender industry could achieve if all adopted an industrywide online mortgage submission platform.
Developed by Mortgage Brain, the Mortgage Trading Exchange allows brokers and lenders to efficiently complete, submit, track and administer AIPs and Full Applications online.
Trevor Grant, Chairman of AEMA, said:
“We have identified the urgent need to migrate to a digital process and in doing so, drive more efficiencies and improved levels of customer service in our business.
“We have now acted by selecting Mortgage Brain as our etrading partner to enable all of our members to use MTE to submit applications and supporting documents online to all lenders in Ireland in conjunction with their own individual CRM systems.”
Mark Lofthouse, CEO of Mortgage Brain, adds:
“Irish brokers are clearly embracing the use of mortgage technology. The estimated €12 million in savings that the Irish mortgage industry can make by adopting MTE is incredibly significant.
“Mortgage Brain has already proven that an industry solution such as MTE delivers a better broker and lender service at a lower overall cost and we’re looking forward to supporting the Irish market to achieve these substantial gains.”
