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 […]
Solving short term staffing issues
The reluctance to increase fixed costs as growth forecasts remain unpredictable is completely understandable and we would say, necessarily prudent, in the current climate. With increasing regulatory oversight, it is crucial to ensure that not only is the customer getting good service delivery, but also that operational efficiency is maximised. What is needed in the […]
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 […]
Fraud Reviews
In June 2011 the FSA produced a thematic review looking at mortgage fraud being perpetrated against lenders and visited a number of mortgage lenders to specifically assess their anti-fraud policies and procedures. One of the findings was summarised as “While the majority of firms had systems in place to track and manage mortgage arrears, few […]
Taking the initiative with Staffing Solutions
We have commented on the need for staffing solutions in a previous update and we have had a lot of positive reaction from customers enquiring about how we can help. The last few months has seen a real upturn in confidence within the financial services sector, resulting in the need for extra staff to cope […]
How are your Policies and Procedures holding up?
New approvals in the mortgage lending industry continue to show an upward trend and the “doom and gloom” of the past few years is starting to lift. There are already signs that competition amongst lenders is becoming more intense and when the current focus on keen interest rates becomes un-competitive from a profitability perspective, there […]
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 […]
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 […]
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, […]
The Importance of Valuation Instructions
Phimister v DM Hall LLP [2012] CSOH 169 The issue was the scope of the surveyor’s duty to a purchaser. Phimister sought damages from DM Hall for professional negligence in respect of a mortgage valuation report, on the grounds that the firm owed him a duty of care to check the area of the property […]
