JET, the new online compliance tool for conveyancers, has been welcomed by the CML as a ground breaking product which will ensure conveyancers, working with lenders, can help counter both fraud and negligence.
Incorporating over 19,000 elements of the CML Lenders Handbook, JET, which is being rolled out across the UK with selected conveyancing firms by the developers, JET Convey, in association with First Title’s HOPP, will enable 100 per cent compliance of lenders’ criteria.
JET has simplified the conveyancing process with the creation of their online tool, which contains the lending instructions and also the rules from the CML Handbook. When you process a case using JET, the system will establish the correct lending criteria and will also provide an audit trail which can be saved in your own case management software.
CML Director General, Paul Smee. says:
“It is always good to see innovative products which help those involved in the housing market to counter the very real problems of fraud and negligence. JET has developed a means of helping conveyancers use our handbook which should make it easier for them to protect against these risks”.
While Head of Distribution at JET, Alan Dring, says:
“We are delighted that the CML has welcomed JET, and sincerely believe it can help the lender and conveyancing sectors work together more effectively in the crucial fight against fraud in the mortgage market.”
Michael Coogan, the former CML Director General also supports JET, commenting:
“The conveyancing revolution is underway and anything that supports lenders and lawyers in their fight against negligence and fraud is to be welcomed. I wish JET well”.
JET is also being billed as a tool for lenders to help develop their conveyancing panel criteria while allowing conveyancers to comply with new regulations which will come into force next October.
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