The importance of monitoring complaints
Recent headlines surrounding the record £117m fine levied on Lloyds Banking Group for its failings and ‘unacceptable’ conduct in handling claims over payment protection insurance (PPI) is a warning to any company. Complaint handling, and in particular PPI complaint handling, is a high priority issue that the Financial Conduct Authority (FCA) continues to address. The […]
Securitisation and due diligence
The Joint Committee of the three European Supervisory Authorities has recently issued recommendations around disclosure requirements and obligations relating to due diligence and supervisory reporting within existing EU law on Structured Financial Instruments. One of the main recommendations that came out of the report was the need to establish a harmonised due diligence and disclosure […]
Mortgage Credit Directive
It is now a year since the implementation of the Mortgage Market Review (MMR) and whilst we can all point to instances where it appears to have given lenders a backstop reason for declining what appear to be perfectly sensible lending decisions, there is no doubt that it has brought regulation to the forefront of […]
Post-acquisition services
Whether by collective or shared investment, creating an alignment of interest with the servicer is what detailed contracts or Joint Ventures aim to achieve when considering taking on Non-Performing Loan (NPL) portfolios. Based on our experience reviewing servicers, frequently this is not the case despite the goodwill of both parties, mainly due to potential conflicts […]
Audits can improve sales results
With so much attention now being focused on advised sales processes, particularly when applying for a product by phone via a call centre, a compliant audit procedure is essential. But that audit procedure itself can also help improve sales results, if utilised correctly. First, ensuring that sales staff provide information in a way that is […]
The “rise and rise” of the Chief Data Officer
Any holder of mortgage portfolios will realise that correct and accurate data is one of their most valuable corporate assets. Compliance and regulatory initiatives continue to impose heavy burdens on financial firms, especially those with poor information management infrastructures. Many organizations would also agree that they lack the focus, skills, competency and possibly leadership to […]
Lenders Credit Appetite
The Bank of England recently published the results of its quarterly survey of credit conditions for Q4 2014. It shows some interesting responses from lenders as to what happened during the run up to the year end and some views of what may happen in the early part of 2015. The supply of secured and […]
Choosing a Servicer – an independent view
A key decision for any investor in the mortgage and loans sector is who to team up with to service their portfolios. This question is normally asked by the investment team as they start crunching the numbers and modelling the different collection scenarios to establish the potential return on investment. In highly competitive markets, where […]
CCMA Webinar Briefing Notes
Thank you for your interest in our recent WEBINAR briefing on the revisions to the CCMA. We had good attendance levels and a significant number of questions after the event to ask for our help in providing more in depth gap analysis. During the briefing, we highlighted the fact that whilst only a few of […]
Interest Only – It Can’t All Be Bad?
We have previously reported on this topic on a number of occasions, but, since our last comments, a particular aspect has been taking prominent space in the trade press and it has been under the headline of another potential mis-selling scandal. Various Claims Management Companies (CMCs) have been focussing on the potential for individual borrowers […]
