Xit2, the property data hub, has joinied the Council of Mortgage Lenders as an Associate Member. The CML now has 84 Associate Members and, after Bank of China joined in October, 136 Full Members.
Mark Blackwell, managing director of XIT2, said: “This shows our commitment to the industry. Back in December 2007, the CML had more than a hundred Associate Members. Over the last two years something like 35 of them have left. Then last month, the CML said it expected more of its members to leave over 2010. Those who leave lack either the financial backing or the commitment to lenders. We are demonstrating both by joining.
“XIT2 is becoming 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.
“We’ve seen the turmoil in the market and we’ve adapted to it: 80% of the new products we developed this year have been aimed at helping lenders deal with the downturn. That’s why we’ve got involved with arrears management, repossessions management, LPA receivership, and Audit and Fraud data analytics. We’re not passengers. We’re driving through this with our lender partners.”
Date: 1st, December, 2009
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