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Brain filters aim to help on adverse loans

Mortgage Brain has launched an enhanced adverse and buy to let sourcing module on its Premier Edition sourcing system.

The firm, which offers sourcing, point of sale, compliance and electronic trading systems, has set up its premier system, including filters designed to source non-conforming products, covering county court judgments, individual voluntary arrangements and bankruptcies.

Enhanced features include improved adverse filters, up-front filters, extra data added to scheme details, improved adverse product information, greater validation of adverse data, direct links to Experian and is Microsoft Vista-ready.

Mortgage Brain says the latest edition is being rolled out to mortgage intermediaries and will be available to all by the end of the month.

The service will cover mainstream lending and adverse, including buy to let, let to buy, self-cert, adverse and light adverse.

Mortgage Brain chief executive Mark Lofthouse says feedback from customers and partners has directed the company to develop the next generation in line with their requirements.

He says: “The new adverse sourcing filters have been designed based on feedback and input from the industry.

“The specialist lending market is extremely complex, particularly in a regulated environment and the enhancements we have made to the new module will streamline the whole of market mortgage sourcing and sales process for the benefit of our customers.”

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