Expect more mortgage network failures: Sesame

It is urging advisers to conduct their own due diligence on their networks and watch out for warning signs. These could include networks getting slower at paying commissions, which could possibly suggest cash flow issues. Stephen Young, Sesame’s sales and marketing director, is concerned many advisers are oblivious to the risks they are running, as they are unaware mortgage lenders do not currently conduct ongoing due diligence of networks. He believes the trend in the mortgage packaging arena over the last year, which has seen a succession of closures and consolidation activity, is lik...