Quantus Legal to improve CML handbook compliance with LENDERmonitor
Lexsure and Quantus Legal have teamed up to enable law firms using Quantus searches to order free LENDERmonitor policy searches directly off the Quantus website. This will streamline solicitor access to LENDERmonitor’s comprehensive database of lender policy changes.
In addition to real time alerts — regularly e-mailed to thousands of lawyers in England and Wales — LENDERmonitor offers database searchable by specified time periods and individual lenders.
A search of the Lender Policy Database is typically carried out just prior to the request to drawdown funds and covers the period from when the documentation on the transaction was first reviewed. If changes have occurred during this period, the Search highlights the original and new text within the relevant sections of the Policy. If no changes have occurred, the search results reflects this as well. Shortly after the lawyer completes the search request, the results are e-mailed in a PDF file.
“This meets the needs of our clients and prospects, providing an essential tool to ensure lawyers comply with lender requirements,” said Kevin Preston, President of Quantus. “Due to the frequency of the updates and the time involved in checking the handbook, it’s easy for solicitors and conveyancers to fail to regularly check for changes. They could be acting on out-of-date information. This leaves them open to risk and claims of negligence when it could easily be reduced through LENDERmonitor policy search which takes seconds to complete and is free of charge through our site.”
“We are pleased to partner with Quantus and to be their provider of choice for lender policy search,” Lexsure CEO Simon Seaton said. “The combination reflects our strategy of joining with innovative partners to make the conveyancing process easier, faster, and less risky for the legal and property communities.”
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