Packagers Join Hands To Face Credit Crunch

In order to have a more substantial stance for the credit crunch, Em-Financial and Open Door Solutions has joined hands and started a strategic coalition. This has in turn incited more packagers to join forces and improve their positions in the market.

In order to have a more substantial stance for the credit crunch, Em-Financial and Open Door Solutions has joined hands and started a strategic coalition. This has in turn incited more packagers to join forces and improve their positions in the market.

The partnerships have been forged so as to maximize the business returns. With the help of this partnership, the strengths will be focused one while the processing costs will be cut down.

This step will improve the cultivation of networks for the Em-Financial and also the improvement of the existing packaging services. On the other hand, Open Door Solutions will have control of the directly authorized and the additional business.

Roger Morris, managing director of Em-Financial says, ?This partnership opens new horizons for us. There will now be greater stability in our relationships. With these partnerships, we will see not only a survival but also good growth.?

Bob Scott, managing director of Open Door adds, ?Em is known for its potency in packager market and the track record of managing network that it has maintained in superb. We, on the other hand, have our own reputation in the DA market. We are also reputed in the ancillary developments including the forthright models.?

This duo claims to offer deals with maximum benefits to the end users. This will also provide a good income to the brokers and the networks.

The packager community has also received this partnership well.

The chief executive of Oxygen Mortgages, David Matthews says, ?These kinds of partnerships are a step towards growth. This will provide benefit to both the packagers and the clients. It is important that in a time like this, when we are facing a credit crunch, the strengths and weaknesses are to be realized and worked upon so that the needs of the clients are met.?

John Rice, the managing director of the Regulatory Alliance of Mortgage Packagers is surprised that it took a long time for these deals to come in to existence. He added that this type of a consolidation will be seen to flourish in the coming times.

The packager arms of Niche Mortgage Solutions and that of Finance and Mortgage Solutions were merged last week. The trade will happen with the name of Niche Mortgage Solutions while the brand of FMS will be used for regulated activities.

Please visit our website at http://www.firstchoiceloan.co.uk/

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by Tom Darwin (few years ago!)

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