Background
The Mortgage Market Review (MMR) will bring a number of substantial changes to the mortgage industry, such as removal of non-advised sales process and changes to affordability requirements. While firms are working hard to implement the new requirements by the 26 April 2014 deadline, MMR readiness varies significantly among all firms affected. Some firms have used the MMR as an opportunity to deliver process improvements and efficiencies, while others have struggled to make the necessary decisions and changes on time and anticipate follow up work will be required.
In this paper we summarise the key challenges faced by firms in the mortgage market and identify what firms should be looking to do and consider next, in order to fully embed the requirements and achieve fair outcomes.
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The journey ahead – Life after the Mortgage Market Review (PDF)
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