Personal

Business

Commercial

Economy

Association of Arrears Mediators launched

21 January 2010

Five leading mortgage and loan arrears mediation companies have founded the Association of Arrears Mediators (AAM), a new trade association for this section of the arrears industry

The AAM, which will officially launch on the 1st February, will establish and maintain a professional code of conduct, aligning the industry with similar requirements placed on mortgage lenders, the broader financial services community and other professional practices.

The AAM has been created by the five major providers, who collectively account for around 90% of the professional instructions within the sector:

- Debt Management Services Ltd
- Excel Collection & Enquiry Services Ltd
- NCI Resources Ltd
- PDP Management Services Ltd
- Property Services Partnership Ltd

The objectives of the AAM include ensuring that the already high quality services its members provide are delivered in a uniform and consistent manner to all lending institutions, thus allowing them to provide the necessary legal and regulatory reporting more easily and fulfil their compliance obligations under the 'Treating Customers Fairly' principles.

The new eligibility and ongoing code of conduct rules include:

- All field agents must be fully licensed by the OFT and comply with all relevant regulations

- Consistent training programmes for all field agents and internal staff

- Performance monitoring of all field agents and staff

- Fully adhering to the 'Treating Customers Fairly' (TCF) policy

- A robust complaints procedure

- Comprehensive Professional Indemnity cover

An independent, high-profile chairman has been approached, and he is expected to take office from February 2010. Mervyn Pilley, an experienced membership professional, has been appointed as secretary general.

Commenting on the reasons for the creation of AAM, Mervyn Pilley said:

“The professional arrears mediation industry, originally known as arrears counselling, has been around for some twenty years and has now reached the size where it needs its own dedicated trade association. Our key objectives are to support our members and to:

- Create consistent, high quality standards and best practice throughout our sector to help members support lenders in their regulatory obligations with the Financial Services Authority and other interested groups.

- Help our members effectively support debtors in their relationship with clients

- Ensure our industry services are consistent with FSA guidelines.

- Achieve recognition as the recognised trade body within the arrears mediation sector”.

The official launch of the Association of Arrears Mediators will be on 1st February 2010.

For further details about the AAM, please call 0871 231 1689 or visit the website

Back to News

Print Article

House prices remain strong in York

Principality launches 3 year tracker

Europe agrees on financial watchdog rules

Prime London residential price decline continues

New lifestyle & property portal gives control back to agents

FSA agrees to add CISI PCIAM exam to list for consultation

Banks attract investor interest as FTSE climbs

Conveyancing Alliance appoint new Account Manager

FSA imposes lifetime ban on insurance broker

IFAs increasingly turning to wrap platforms

FSA fines Moneywise IFA Limited

Allianz appoints household claims operations manager

House prices fell by 0.9% in August

MoneySolve link up with TrigoldCrystal

Lloyds TSB launches new fixed mortgage

E.Surv ISO 9001 accreditation extended

The launch of Conti Property

Housing market held back by lenders' reliance on automated systems

SMEs are still struggling to get access to commercial finance

Consumers keep lenders in the dark about financial woes

TMW increase choice on BTL product range

Movewithus to become Charlbury Group's latest partner

August sees biggest monthly increase in product numbers

Coventry completes merger with Stroud & Swindon

The Cambridge joins Legal & General Mortgage Club

FSA publishes annual Product Sales Data

Blu Debt Management teams up with Paymentshield

Detached house prices rise by £91 a day over the past year

FSA take action against two mortgage brokers

KPMG warn against pension deficits

Four-year negative equity warning from NHF

Annuity rates at all time low

Gross lending by mutuals hits high for the year

Nationwide's loan now available to more people

Re-pricing of housing underway

Proportion of first-time buyers drops to just 1 in 5

Positive Q2 GDP figure unable to lift sterling

July House Prices up 0.4%

Surge in new mortgage enquiries shows market improvement

Outlook for rents remains firm on rising tenant demand

In the Spotlight

Every month we invite an industry regular to pop in for a brew and a chat with MyIntroducer to find out what they're up to and how business is fairing so far in 2009.

This Month we talk to Gary Bailey, Company Director at Manchester based lender, Blemain Group. Click to Read More...

Blu Debt Management teams up with Paymentshield

SMEs are still struggling to get access to commercial finance

Is your financial future at risk? Asks Prudential's Investment director

Santander Business Banking to offer loan & bond products through NACFB

Debt levels could be 'tip of the iceberg', warns The Debt Advisor

Blu Debt Management teams up with Paymentshield

SMEs are still struggling to get access to commercial finance

Is your financial future at risk? Asks Prudential's Investment director

Santander Business Banking to offer loan & bond products through NACFB

Debt levels could be 'tip of the iceberg', warns The Debt Advisor

Turn on the rental tap, urges Assurant Intermediary

MYI Poll

Our Partners

	Commercial Introducer The Home of the Bridging & Commercial Professional. Industry News, Reviews & Comment aimed specifically at commercial finance specialists.
	Debt Introducer The Home of the Debt Solutions Professional. Industry News, Reviews & Comment aimed specifically at debt solutions specialists.
	Factel Studio Commercial Website's designed and managed completely by yourself from as little as £10 Per Month.
	MailEm Email Marketing Made Easy! Deliver your message to over 3.5 million businesses using Mailem's simple cost-effect email delivery system.

Home | Terms Of Service | About Us | Privacy Policy | Anti Spam Policy | Advertise on MyIntroducer | Contact Us

ADVICE TO READERS
While this website is checked for accuracy, Barcadia Media Limited are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances.

Myintroducer.com is a trading style of Barcadia Media Limited © 2009
Barcadia Media Limited. Registered in England & Wales No. 6970806 Registered address. Barcadia Media Ltd, Unit 6, 154-158 Church Street, Blackpool, Lancashire, FY1 3PS. Tel: 0845 413 0599 Data Protection Notification No: Z162 1548