The property technology firm has become the 84th associate member of the council, which has 136 full lender members.
Xit2 managing director Mark Blackwell says: “We have become an associate member of the CML because we have something to contribute to the future of the industry and because we want to align our business as closely as possible to the needs of lenders.”
Xit2 says 80 per cent of the products it has developed this year have been aimed at helping lenders deal with the downturn and says it wants to continue to help lenders manage their new and existing books as well as their defaulting loans.
Blackwell says: “We’re not passengers. We’re driving through this with our lender partners.”
Other recent members to join the CML include Bank of China and mortgage administrators Exact.