JSMedia – The Council of Mortgage Lenders (CML) is a UK trade body for the mortgage industry. It represents banks, building societies, and specialist lenders. Members represent more than 95% of the mortgage lending market in the UK.
In November 2015, the CML merged with the British Bankers’ Association and UK Finance to become the new body known as UK Finance. In July 2017, the CML became part of UK Finance.
The Council of Mortgage Lenders Guide
A mortgage lender can be rated by the Commissioner of Banking based on its performance under two separate standards: the lending test and the service test. A lender’s rating will be based on how many home mortgage loans it has made in the previous calendar year. If a lender voluntarily took corrective action, the document will show whether it followed fair lending policies. This document also lists the types of credit available. The Council of Mortgage Lenders maintains an online rating system, which provides consumers with a list of recommended and top-rated mortgage lenders in the US.