MPowered Mortgages recently announced the launch of its prime-residential mortgage range, aiming to make the mortgage application process quicker and more certain, using AI, data science and machine learning.
Emma Hollingworth, Distribution Director, will be MPowered Mortgages’ appointed IMLA representative, and she will bring a wealth of industry experience across the UK intermediary mortgage market to IMLA discussions.
Emma Hollingworth, Distribution Director at MPowered Mortgages commented:
“We are delighted to join IMLA, an organisation which brings huge value to both its members and the wider mortgage industry. We are looking forward to taking part in the important conversations driving change within our sector—in particular, when it comes to the role of technology in offering both brokers and their customers a smoother homebuying experience.
“We believe it’s crucial that the industry adopts technology like we have at MPowered to expedite the mortgage process and simplify the mortgage journey for homebuyers. This is more important now that it has ever been given the rapid rise in the cost of living and the expected increase in mortgage rates putting extra pressure on brokers to secure mortgages as quickly as possible for their customers. At MPowered Mortgages, we are empowered to revolutionise the mortgage process and service for both brokers and their customers.”
Kate Davies, Executive Director of IMLA, commented:
“We welcome MPowered Mortgages to IMLA, where we value the diversity of our membership as we unite to effect positive change within the mortgage industry. We look forward to MPowered Mortgages’ contribution as we continue to work together to create an even brighter future, improving outcomes for our members, the industry and, of course, those whom we all serve, homebuyers.”
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Notes to Editors
MQube was established in 2016 with the goal of making mortgage origination and distribution better for all participants. The founders, Stuart Cheetham and Richard Fitch, previously held senior positions in retail and investment banking at businesses including HBOS and Lloyds.
MQube exists to deliver better outcomes by rethinking every step of the mortgage journey. It’s designed to empower every part of the ecosystem by focusing on a better experience, higher certainty, and more control. MPowered, our proprietary platform open to all mortgage lenders, uses AI to support underwriting, thoughtful user journeys to make the process more intuitive, and data science to improve risk management and compliance. MPowered Mortgages uses the platform to provide mortgages to qualified borrowers.
MPowered Mortgages is backed by Barclays, Citigroup’s SPRINT, and M&G Investments. In 2019, MQube raised its seed funding from AV8 (lead investor), IQ Capital and JamJar Investments.
The Intermediary Mortgage Lenders Association (IMLA) is the trade association that represents mortgage lenders who lend to UK consumers and businesses via the broker channel. Its membership of 65 banks, building societies and specialist lenders include 18 of the 20 largest UK mortgage lenders (measured by gross lending) and account for about 90% of mortgage lending (91.6% of balances and 92.8% of gross lending).