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Loss of market share to the banks has prompted a number of non-bank lenders to consider the possibility of resurrecting the Mortgage Lenders Council, with a preliminary meeting planned to take place this Wednesday.
As a prelude to the discussions, head of consumer advocacy with Resi and former president of the council Lisa Montgomery will meet with a representative from the government’s treasury office tomorrow to outline the non-bank sector’s current situation.
“The council became dormant because of a lack of funding and a lack of resources,” said Ms Montgomery, who hopes that Wednesday’s meeting will provide an opportunity to gauge sentiment among non-bank lenders and discuss the practicalities of resurrecting a council for the non-bank sector.
Published: 07-04-08
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