The clock is ticking towards implementation
The FCA has recently released the results of a comprehensive survey carried out on 5400 firms, attempting to ascertain how ready they are for MMR implementation in April 2014. Completion of the survey was not compulsory, but it did achieve a response rate of 68%. Interestingly, two thirds of the respondents said they were on […]
Rockstead sponsors IBF conference in Dublin and presents on market opportunities
Rockstead was delighted to sponsor The Irish Banking Federation (IBF) conference in Dublin last week, which focussed on the housing and mortgage market in Ireland and brought together a number of high profile speakers who presented to over 120 attendees. The conference was chaired by Jim O’Keeffe of AIB, who also acts as Chair of […]
Data Integrity Verification – our recent experience
Since expanding operations into Ireland and Spain, we have undertaken a number of loan book audits on behalf of purchasers. We have been involved in the assessment of a wide variety of loan book types, including prime rmbs, cmbs, auto financing and unsecured, and a common trend throughout the audits executed is a significant level […]
Ireland Seminar Invitation – 21st November 2013
The Divestment and Acquisition of Residential Mortgage Loans in Ireland We are delighted to invite you to attend a complimentary seminar on Thursday 21st November 2013 at The Gandon Suite, O’Callaghan Davenport Hotel, 8/10 Merrion Street Lower, Dublin 2, Ireland. Please join us for this informative and timely seminar on one of the most anticipated […]
Trust v Verification
There is high trust factor involved when you work with different Master Servicers in different jurisdictions. It is very common in the industry to reach agreements with a “Skin in the Game” approach, where profits are shared once targeted internal rate of returns or recovery rates are achieved. Due to the complexity of running several […]
Selecting and monitoring your third party suppliers – a case study
We have previously reported on the importance of carrying out due diligence on suppliers. Behind any well-presented “sales pitch” by suppliers is the seemingly obvious need to ensure that your individual business requirements can be accommodated within your chosen supplier’s processes. We have been in dialogue with one of our customers who commented on the […]
Lenders under pressure?
The Central Bank of Ireland (CBI) recently published results for 2012 and preliminary data for the first quarter of 2013, which showed a lower growth rate than expected and suggested a only a ‘muted recovery’ in activity for this year. Specifically within the banking sector, the report shows improving liquidity and deleveraging, but there remain […]
Regulatory changes – putting the consumer first
Whether holding asset or actively lending, it is vital that businesses are putting the consumer at the heart of their business models and strategies. The Financial Conduct Authority (FCA) suggests that this fundamental principle may involve “making cultural changes that promote good conduct outcomes throughout the business”. Firms must establish appropriate oversight and governance around […]
Buy to let lending – solicitor conflict of interest
It appears that a number of solicitor firms are just starting to test the subtlety of some of the requirements and provisions of the recent changes to the Solicitors Regulation Authority Code of Conduct 2011. One challenging area relates to conflicts of interest in respect of “buy to let” transactions. Chapter 3 of the SRA […]
Mitigating risk
Standard and Poor’s have recently commented that the securitisation market during 2012 will remain slow due to wider market pressures, the fragile economic backdrop and subdued underlying mortgage lending, which will likely hold back RMBS issuance volumes. In addition the costs of all types of funding remain high, and combined with tougher regulatory capital requirements, […]
