SDS Mortgage Hub system now live at Mortgage Distributors Cooperative.
October, 2003 – SDS Applications Ltd, one of the UK's leading mortgage solution providers, are happy to announce that The Mortgage Distributors Cooperative are now live using the web-based MAPS Hub system.
SDS has installed the system between packagers from the MDC consortium and funding lenders, allowing the creation of exclusive products and keeping lenders aware of where their lending pipelines are being distributed.
SDS’s managing director Ihab El-Saie said: "The Hub sits between packagers, who source the business, and funders, tying the two together. It allows individual packagers to ensure they select an appropriate product and comply with that product's rules, at the same time as allowing the funder to issue the offer against the product."
Loans: SDS at "hub' of Mortgage Distributors Cooperative
Mark Charlesworth, chairman of the MDC said "We believe the SDS system will bring huge benefits to all parties involved in the distribution process. Brokers will benefit as the system effectively brings the lenders into our offices. We will also be offering a wider range of loans products."
Rooftop, a new lender to the market introduced by Crown Mortgage Management will be the first lender to use the Hub to distribute mortgage products through MDC member packagers The Mortgage Operation, Genesis Home Loans PLC, Solent Mortgage Services, Pink Home Loans, Mortgage 2000, BDS, Advantage, ICMG, County Mortgages and Pavillion.
MDC packagers will be responsible for the marketing and administration of Rooftop mortgages along branded lending lines. Crown Mortgage Management will service the completed loans.
About SDS Applications Ltd
SDS Applications Ltd is considered one of the mortgage industry's foremost providers of mortgage lending software solutions. The company offers an integrated suite of mortgage processing and compliance solutions for lenders and mortgage packagers.
Recent Clients in the Mortgage & Lending sector include The Mortgage Operation, GMAC RFC, Solent Mortgage Services, Genesis
Home Loans PLC, The Finance Centre, County Mortgages, Barnsley Building Society, Cambridge Building Society, The Finance Centre, Chesham Building Society, Universal Building Society and National Counties Building Society.
For further information please visit the Internet site at www.mortgage-systems.com
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