Mortgage brokers still have time to fully implement the FSA's Treating Customers Fairly (TCF) initiatives, despite many missing the initial March deadline, according to Mortgage Stream.
The mortgage broker compliance company says firms that feel they are behind could, in most cases, easily meet the deadline provided they use the right technology. The FSA’s most recent update suggested just 13% of mortgage firms had met the March deadline for implementing proper management information systems. However, Mortgage Stream says the 80% of firms the FSA believes will meet the December deadline should ensure they continue to work towards this goal. Paul Holden, sales director at Mortgage Stream, comments: “I believe the greatest danger for successful TCF implementation is if fi...
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