IMLA 3rd Floor North West Wing Bush House Aldwych London WC2B 4PJ Tel: (020) 7438 8942 Fax: 0845 373 6778

IMLA members are responsible for introducing the concept of 'centralised mortgage processing' which enables mortgage applications to be generated via intermediaries and transmitted for processing by telephone or post. Centralised mortgage processing has now been embraced by the majority of leading lenders and investment in systems development has helped pave the way for modern 'direct' mortgage operations. IMLA members remain committed to enhancing the streamlined service they already provide. They are amongst the leaders in developing electronic tracking and information services for intermediaries and borrowers, and continue to look at new products and services which can be provided efficiently through this centralised processing mechanism. IMLA members remain at the forefront of new product development. Member companies continue to launch innovative new products and services, with the aim of offering borrowers greater choice and flexibility. Innovative funding techniques have enabled IMLA members to launch a wide range of wholesale money market products including capped, short and long term fixed rates and stabiliser facilities which are now widely available for borrowers. IMLA members pioneered the process of securitising mortgage assets. Securitisation enables mortgage lenders to remove mortgage assets from their balance sheets and thereby create capacity for further lending. This funding technique was particularly important in the mid 1980's when the mortgage market was growing rapidly and may once again gather pace as and when mortgage demand increases.