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Code trio setting up rival loan trade body

Three Mortgage Code Compliance Board directors are understood to be setting up a non-profit-making trade association for intermediaries to rival the proposed Nat-ional Association of Mortgage Brokers & Advisers.

Exchange FS managing director Jim Gaskin, Allied Dunbar franchise develop-ment director Dave Seviour and Mortgageforce managing director Rob Clifford are believed to be drumming up support among top brokers for the venture.

In a move likely to create tension between the two bodies, the as yet untitled association is believed to have pencilled in a September launch date – over three months before Namba is due to get off the ground in January.

The latest trade association could also benefit from a huge in-built membership if the directors were to involve the employees of their companies in the scheme.

Gaskin is understood to be lined up to take the reins initially as chairman, with Clifford and Seviour sitting as joint chief executives until elections are held among the membership for the main positions.

Clifford says: “I am not in a position to confirm any det-ails but I absolutely support the need for such a body to emerge as soon as possible.”

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