We specialise in acting for brokers and originators whose trail has been cut of or is threatended.
Many clauses in origination and aggregation deeds that claim to give the right to seize trail are unenforcable, including onerous indemnity clauses. We have also developed various effective defences based on contractual arguments derived from the wording of the deeds themselves as well as the practices and waivers adopted by the parties themselves.
We have run several cases for those who have had their trail commission stopped and seized by funders. Our extensive experience in the mortgage industry means that we are familiar with all the issues surrounding these claims. This includes the structure of the relationships between brokers, aggregators, lenders’ mortgage insurers, originator-funders, and lenders. Our extensive experience suing valuers gives us unique insight into the potential proportionate liability of valuers, solicitors, brokers, and borrowers.
Most contracts allowing for the seizure of trail are void as penalties and in all cases we have been able to negotiate settlements-sometimes, if the aggregator is stubborn and poorly advised, only after commencing proceedings.
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