CML

The Council of Mortgage Lenders – the CML - is a trade organisation of home finance providers which has its origins in the Association of Mortgage Lenders, a body set up in the 1980s as an informal credit circle which used to meet regularly to swap details of serious mortgage frauds.

The CML is now a far cry from its origins and now consists of specialist mortgage lenders, banks and building societies accounting for around 98% of UK residential mortgage lending.

Its stated aim is to promote a favourable operating environment in the UK housing and mortgage markets.

The CML is generally regarded as the voice for the residential mortgage lending industry. It also is a central source of statistics about the mortgage industry.

In 1991, to plug a gap in credit reports that existed at the time, the CML set up a Repossessions Register – a database which shared details of mortgage repossessions in an attempt to stop persistent re-offenders and to enable more informed and more responsible lending.

The improvement of the way repossessions are reported on credit reports within shared databases such as CAIS, Insight and Share resulted in the duplication of reporting of repossessions, which was cited as the reason for the abandonment of the Repossessions Register and the destruction of the database on 30 June 2010.

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