RAMP to Launch Compliance Forum
The Regulatory Alliance of Mortgage Packagers (RAMP) is to form a new industry-wide compliance forum.
The new forum, which is aiming to have 12 delegates, is designed to better represent the differing views of all the mortgage industry. It is envisaged that the new group will comprise of four lenders, one packaging alliance (RAMP), two independent packagers, three directly authorised intermediaries and two networks
The new voice piece will be called The Mortgage Compliance Forum and its main purpose will be to engage the FSA and share views before policy decisions are made.
The FSA has said that it wants better industry cooperation, but the problem here is that although the new group will go some way to appeasing the regulator, there is still going to be a disjointed industry because of the number of rival groups to RAMP.
Correct me if I am wrong, but a quick glance around the Internet reveals there are the Professional Mortgage Packagers Alliance (PMPA), the Alliance of Mortgage Packagers and Distributors (AMPD) and the United Packagers Association (UPA) all doing a similar pre forum thing to RAMP and surely they will already have similar plans or their own ideas about compliance.
By either using a Boxing Association or Judean Peoples Front analogy, there just seems to be too many groups.
