New Generation MTE Intermediary Q&As
What is Mortgage Trading Exchange?
The Mortgage Trading Exchange (MTE) is a common trading platform that any Intermediary can use to send business electronically to a wide variety of lenders.
It can be accessed via various sourcing systems such as MBL, M2000 etc or it can be a standalone application added to your desktop.
For further information please visit www.mtedirect.co.uk.
I don't currently have access to MTE. How do I subscribe?
To access MTE, you need to register your details on the MTE user registration database and obtain your User ID, Password and PIN number. You can do this at www.mteregistration.co.uk/user/reglogin.aspx.
You will also need to be registered to trade with Nationwide. Once you have obtained your MTE sign on details (described above), go to Register with us.
Who can I speak to if I am unable to register to MTE?
Registration is simple, via the www.mteregistration.co.uk/user/reglogin.aspx. If the Intermediary does not have Internet access they need to speak to their own technical helpdesk to make this available.
I am a Mortgage 2000 user. If I register with the MTE can I send Nationwide a DIP online?
Yes, irrespective of how you access MTE all users have the same functionality.
I have MBL and version X software. I have registered but the system will not allow me to submit an online DIP. What do I do?
There could be many reasons why a transaction is not possible, but the two main issues are usually;
- Have you recently downloaded the "Token" - this takes 2 hours to upload to lender systems, you may want to try later.
- "Error 10101: user details incorrect" means that the details you registered on your MTE registration do not match those held on the Nationwide database. Please re-visit www.mteregistration.co.uk/user/reglogin.aspx to check what you have entered is correct, especially, First name, Surname, Date of Birth and Company FSA number, if incorrect please amend. This information takes 2 hours to download to lenders, so try again later. If all details are correct telephone Nationwide on 0845 8502852 for assistance.
What do I do if I forget my User ID, Password or PIN?
Call the MTE Helpline on 0870 887 0055, to reset your data.
If my computers are networked, do I still have to register each machine individually?
Yes, you still need to download the token on each machine.
If my machines are networked, can I use the same user ID for everyone?
No, the User ID is for an individual person and not related to a machine or company.
How do Intermediaries trade electronically with Nationwide?
This can be through the Mortgage Trading Exchange (MTE) or the Nationwide 'Intermediary mortgage e trading' website.
What types of cases can be DIP'd electronically on MTE?
The electronic DIP (Decision in Principle) caters for Main Loans, Remortgage and Shared Ownership - purchase cases.
If an Intermediary wants to submit a second property purchase, equity share, right to buy, or guarantor mortgage, these have to be submitted on paper at present.
What benefits will I receive from using the online Decision in Principle (DIP)?
- speed - DIP decisions in seconds
- as long as the proofs match the input, you can rely upon our decision: 'Yes' means 'Yes'
- priority on case packaging once full mortgage application is submitted
- pay fees payable by credit/debit card
- product reserved and valuation instructed on submission (provided fees are paid)
- no paper application print off required
- only need to print off declaration, obtain signatures and post or fax to Nationwide Service Centre with any required proofs
- all data keyed can be printed or saved in PDF format
Will I receive an enhanced administration fee for using the online DIP?
Not at present.
Can I DIP under one mortgage club and submit under another?
Yes, you are asked to reconfirm the channel of submission and the level of service when you submit a full mortgage application.
When I send in a case electronically where does it go? Branch or Service Centre?
The case is submitted directly to your chosen Service Centre.
Why should I DIP anyway? I know the Nationwide criteria
Firstly, refer to benefits above.
Secondly, our Lending criteria being known does not mean that we will lend to a specific customer. Conducting a DIP up front will ensure that as long as the proofs match the input, we will stand by the DIP decision.
Thirdly, to secure your business.
Do I have to be online to download my token (get token)?
Yes.
Do I have to be online to submit an application form?
Yes, although all the forms can be completed, saved and validated off-line, you do need to be connected to the internet to submit applications.
Do I have to be online to log in?
No, as long as you have downloaded your security token you do not need to be online. MTE is an off-line data capture application and you only need to go on line to submit this to us.
Can I save and revisit applications that are not completed?
Yes, by clicking on the close form icon at the top of your screen, it gives you the option to save and validate your form. This can then be completed at a later date.
What happens to MTE if I change my computer or my system crashes and I have to re-install on another laptop?
Contact MTE Helpline and they will be able to talk you through setting this up again - 0870 888 0200.
