The European Mortgage Credit Directive (MCD) aims to create a Union-wide mortgage credit market with a high level of consumer protection. While focussing on the primary policy objective, i.e. facilitating the emergence of an internal market for mortgage credit, this paper analyses the MCD’s regulation of the activities of credit intermediaries, and the rules on establishment and supervision of credit intermediaries in particular. As professional middlemen, credit intermediaries could reduce information asymmetries between on the one hand creditors and on the other hand consumers. Against the background of Fintech intermediary disruption and the increasing importance of digital distribution channels for financial services, our paper analyses whether and/or to what extent the MCD’s prudential rules for credit intermediation qualify as true “enablers” for an Internal market for mortgage credit.

中文翻译：

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信用中介和欧洲抵押贷款内部市场

欧洲抵押贷款指令 (MCD) 旨在创建一个具有高水平消费者保护的全联盟抵押信贷市场。本文围绕促进抵押信贷内部市场形成的首要政策目标，分析了MCD对信贷中介机构活动的监管，特别是信贷中介机构的设立和监管规则。作为专业的中间人，信用中介一方面可以减少债权人与消费者之间的信息不对称。在金融科技中介中断和金融服务数字分销渠道日益重要的背景下，