Back to basics with loan data
As the only truly independent due diligence provider in Ireland, we have been involved in most of the loan sales activity over the last four years. Our involvement has included data, compliance and process reviews as well as full due diligence exercises, but we remain to be convinced that companies selling loan portfolios are managing […]
Staffing Services for new entrants
With the mortgage lending sector now firmly recovered, new lenders have come to market, bringing new methods of risk assessment, backed by innovative technology solutions. However, the value of experienced staff in the form of underwriters, collectors and compliance experts has not changed. One of the key findings of the MMR was that the regulatory […]
Reputational Risk
Reputational risk is a hidden danger that can pose a threat to a company resulting in lost revenue or increased costs. At its most destructive it can wipe out millions of pounds in market capitalisation and can result in significant changes to the management structure. Arguably a lot of problems can be mitigated by strong […]
New Lender Origination Reviews
A recent freedom of information request submitted to the Prudential Regulation Authority (PRA) by a leading industry magazine has revealed that, since January 2016, 13 banking licence applications have been submitted to the regulator. A number of new mortgage lenders have also been authorised and launched during the same period. The New Bank Start up […]
Senior Managers Regime (SMR)
The SMR regime came into force on the 7th March 2016 for individuals working in banks, building societies, credit unions and Prudential Regulation Authority (PRA) designated firms. What is not apparent to many is that the legislation will be extended to cover all companies authorised under the Financial Services and Markets Act 2000 (FSMA) by […]
CMC Risk Update
We are aware that Claims Management Companies are facing some real challenges at the moment but there is a further regulatory change that is on the way. We have produced a Risk Update for your information, which focusses on the Senior Managers Regime (SMR). This is the first of what will be a series of […]
Mortgage books are selling above par – based on what?
Figures released recently by the CML show gross lending in Q2 of 2015 at £52.2billion which is a welcome boost for the industry. The re-entry of investment banks and hedge funds providing funding lines to support the traditional savings model has resulted in mortgage lending levels being at their highest since 2008. Now further funding […]
Securitisation opportunities v asset risk
2016 has been an interesting and difficult year so far for the securitisation market and bonds are trading at their lowest levels for five years. However, the market is resilient and new re-financing opportunities appear regularly. The ever increasing success of the Peer 2 Peer (P2P) lending platforms is an example. The attraction for the […]
Regulatory Risk
More on the Mortgage Credit Directive from Rockstead. A timely warning from the Financial Conduct Authority (FCA) has been issued to both intermediaries and lenders highlighting the inherent dangers that are on the horizon if they are not prepared for implementation of the Mortgage Credit Directive (MCD) by March 2016. From an introducer’s perspective, offering […]
Independent Reviews – Their Increasing Importance
As can be seen by the recent publication of The Treasury Committee report focussing on the various ‘inquests’ into the failure of HBOS plc, independent reviews of businesses, processes and risk positions are back in the news. The debate has now changed direction, including the resurrection of the idea of splitting the oversight of enforcement […]
