Imla: brokers not taking Tcf seriously

The Association says lenders have implemented wide ranging Tcf programmes with 43% of responsibility for such initiatives being taken by either managing directors or chief executives. Where this is not the case lenders have assigned responsibility to Tcf managers, compliance directors, or risk departments. Imla says around 50% of respondents report that changes to product design or product lifecycle processes have been undertaken But many lenders feel mortgage brokers have not fully understood or embraced Tcf principles. Guy Batchelor, chairman of IMLA, says while lenders are taking Tcf ...