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Origo sets its FMA target

Origo says it is looking to have its XML standards for full mortgage applications by the end of the year.

It says its four priorities are full mortgage applica-tion, tracking, sourcing and commission.

Origo says this will follow the delivery of its standards for pre-offer key facts illustrations in April and the work already started on agreement in principle standards, which are expected to completed in June.

Currently, intermediaries use web-based systems or paper forms to submit FMAs to lenders, using their back office software or via packagers.

The FMA standard will be provide a single consistent FMA message between intermediaries and trading partners and reduce the amount of information that needs to be rekeyed.

Origo says the FMA standards will help the industry move towards complete end-to-end processing, complement the pre-offer KFI and AIP standards and broadly complete standards for the sales process.

Managing director Paul Pettitt says: “FMA is the next top priority and is the logical next step in completing the sales process.”

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