Ami aims to introduce transferable fact-find
The Association for Mortgage Intermediaries will work to introduce a transferable fact-find to the mortgage world, Ami director Robert Sinclair has told FTAdviser.
As part of a larger plan to bring costs for brokers down and simplify the processes in the mortgage advice industry, Mr Sinclair hopes to introduce a transferable fact-find which will become a new, universally recognised standard.
The fact-find would include essential data such as a person’s name, address, date of birth and dependents, Mr Sinclair added.
Mr Sinclair said: “How do we get those systems, which are often very diverse at the moment, either all able to talk to each other with some common inputs in language or pull things closer together in order to make that work effectively?
“There should be a core set of static data that every institution takes in the same format. We’ve talked about it for a long time in the investment world and we’ve got quite close in the way applications are done in the pensions world and protection world, but we need to bring that across into the mortgage world as well to try to make things simpler and work better.”
Leading the newly-independent Ami, Mr Sinclair also plans to introduce an extensive consumer-facing educational campaign showing what exactly mortgage intermediaries can do for their customers.