What do we mean by due diligence?
We were delighted to attend the Global ABS conference in London last month with our sister company Yabber Global. It was great to hold face to face conversations with our existing clients and potential new ones. We had some wide-ranging chats; so much easier than virtual meetings which in hindsight now appear to be too […]
The importance of Securitisation in non-bank lenders’ strategies
The importance of securitisations for challenger and non-bank lenders is well known and has been the subject of much of our commentary this year. There are number of sessions where the subject will be debated at this year’s Global ABS being held in London on 27 and 28 September 2021. We are exhibiting there – […]
NPL securitisations and the implementation of Basel standards
Chief Risk Officers, and those with compliance oversight responsibilities, often use regulator consultation papers [‘CP’] as useful documents to plan for and get ahead of the game in respect of a regulator’s direction of travel. CP 10/21 is no exception, as it sets out the PRA’s future thinking on the implementation of the Basel standards […]
Securitisations – alive and kicking
The recent positive news that a UK specialist lender has completed a £350m mortgage securitisation is a welcome fillip for the RMBS industry. In a further boost, a separate transaction of £425m from a different lender followed within days. We understand both transactions were oversubscribed across the tranches, allowing the lenders to price senior notes […]
Recovery Loan Scheme
While the Government’s Bounce Back Loan Scheme (‘BBLS’) and Coronavirus Business Interruption Loan Scheme (‘CBILS’) may have closed, they have been replaced by another loan scheme, also designed to provide financial support to UK businesses, named the Recovery Loan Scheme (‘RLS’). Like the previous schemes, the RLS is initially available through several lenders accredited by […]
Pre-funding reviews by Rockstead
Pre-funding reviews on new lenders or renewals of funding lines have evolved significantly since the global financial crisis (‘GFC’). The reviews were superficial and extremely light touch at that point in time.Back in the first half of the 2000s, funders believed that any failings in the processes of those they funded would be mitigated by […]
Asset reviews – the world has changed
Variety is the spice of life – well that is certainly true in our world. It is often wrongly assumed that we solely provide due diligence reviews on traditional asset sales and purchases of bank/building society secured and unsecured loans, but nothing could be further from reality. Prudent businesses, including ourselves, regularly update their product […]
Credit Risk back in the spotlight.
In our blogs, we have often pointed out that PRA observations about one business sector are often highly relevant to other regulated areas. The recent ‘Dear Directors’ letters to credit unions providing their annual assessment of the challenges facing those businesses is a good example. Not surprisingly the letters include an assessment of post COVID […]
FCA and PRA fines – firms can no longer ignore them
Firms should now have their 2022 compliance plans in place. Information sources that often influence those plans include regulator consultation papers and ‘Dear Chief Executive’ letters as examples. However, one of the most useful sources is often overlooked; analysis of the previous year’s fines issued by regulators. Fines in 2021 were up three-fold on 2020 […]
RICS demands more effective oversight
Regular readers of our blogs will be aware the focus is often based on the core themes of independence, oversight, culture and behaviours. The recent update from the standards and regulation board (‘SRB’) of the Royal Institute of Chartered Surveyors (‘RICS’) confirms a focus on similar issues – and we therefore support it. Many of […]
