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Brain and Enterprise clash over sourcing

Mortgage Brain has hit out at Enterprise’s plans to set up whole-of-market broker and consumer sourcing systems, claiming that it could create conflicts of interest.

Enterprise’s broker sourcing system launches whole of market in October, offering a free online alternative to sourcing systems such as Mortgage Brain and Trigold.

It is also setting up several branded consumer mortgage-sourcing systems.

Enterprise chief executive Michael Clapper says: “We are bringing forward all our plans and morphing into a technology-based firm. We are set to offer an alternative to sourcing for brokers as well as developing consumer-facing systems. We are going for everything.”

Packager network Enterprise has developed branded consumer-sourcing systems for the Daily Express and the Daily Star and is planning similar systems for Ashdown Lyons, and AAP.

Mortgage Brain chief executive Mark Lofthouse says setting up broker and consumer offerings could create a conflict of interest.

He says: “You need to look at the motives of releasing broker and consumer arms. Brokers need to know that Enterprise is clearly focused and is not competing with them.”

Lofthouse also says Enterprise’s 24-hour turn-round time compares unfavourably with Mortgage Brain’s four hours. “Just because something is free does not mean that it has worth,” he says.

Clapper denies a conflict of interest. He says consumer-sourcing systems are primarily lead generators and will only help the broker world.


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