Mortgage Market Review – behind the headlines
Transitional and contract variations For our second commentary on the detail behind the MMR, looking at the less obvious effects on lenders, home finance providers or loan administrators, we are focussing on contract variations. With the 26th April fast approaching the market place has seen an overload of information about how brokers and lenders propose […]
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 […]
Mortgage Market Review – behind the headlines
Formal testing of the MMR process In the same way that Mortgage Regulation Day in 2004 was not simply a one day wonder; the same will apply to the launch of MMR. This commentary is focused on how the FCA will assess the success or failure of the implementation of MMR and what areas will […]
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 […]
Mortgage Market Review – behind the headlines
FCA review Over a month has now elapsed since the implementation of MMR and the news headlines are proving interesting. The national press is concentrating on how intrusive the information required by lenders is when assessing client’s income and particularly expenditure behaviour. The answers to these questions subsequently determine the amount clients can borrow. The […]
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 […]
Rockstead appoints Managing Director Ireland
Rockstead UK, the expanding due diligence and audit business, has appointed David Guinane as its Country Managing Director in Ireland. Guinane, who has vast experience of the lending market, is a former CEO of permanent tsb and Managing Director of Capital Homeloans in the UK. He is currently Chair of the Financial Education Advisory Board […]
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 […]
The importance of supplier Due Diligence
There have been a number of mortgage and loan book trades over the past 6 months, with more on the horizon as a more favourable funding environment appears for new originations, together with increasing appetite for residential and commercial mortgage backed securities throughout Europe. As this market recovers, there should be great opportunities for service […]
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 […]
