AMI, the CML and the Intermediary Mortgage Lenders Association (IMLA) each of which has drawn up a chair and are mid-way through drafting what Michael Coogan, director general of the CML, calls “a coalition agreement”, covering the roles and responsibilities of lenders and brokers.


IMLA says the document is intended to bring clarity to the relationship. Peter Williams, executive chairman of the intermediary lender trade body says although it is about tackling an agenda that emerges strongly from the Mortgage Market Review there is long standing need to clarify accountabilities and responsibilities.


“For too long the debate has been about who owns the customer as if there was a choice - lender or broker,” he says. “In fact at times one or the other or neither.”


It is discussions and discrepancies such as this which provoked previous conflict – notably between the CML and AMI on the topic of the Financial Services Authority’s (FSA) proposed register of individuals which seeks to track individuals involved in the mortgage advice and application process through their careers, offering greater transparency and confidence in the industry to consumers. AMI came out strongly against the


CML with AMI director, Robert Sinclair, declaring: “This trade body [the CML] appears to continue to peddle a branch based protectionist agenda. Their recent submission to the FSA on extending the approved persons regime, saw all the ills of the industry coming from intermediaries.”


The FSA has since announced the


register will be for everyone, including branch-based staff, which Coogan had argued were already subject to stringent enough controls within lenders’ organisations and compliance procedures. The question of who will be affected looks settled but how it will be paid for it still an open gambit and the


mortgAge introducer JULY 2010 23


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