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 […]
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 […]
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 […]
Arrears contingency planning
The markets were not surprised when the Bank of England Monetary Policy Committee (MPC) recently voted to increase the bank base rate. The only surprise was that the increase was limited to 0.25%, lifting the rate to 0.50%. It is now known that members were split 5-4 with those in the minority arguing for a […]
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Bounce Back Loan Scheme (‘BBLS’) and Coronavirus Business Interruption Loan Scheme (‘CBILS’) may have closed, they have been replaced by another loan scheme, also designed to provide financial support to UK businesses, named the Recovery Loan Scheme (‘RLS’).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 […]
Operational risk and resilience
It is nearly a year since the PRA set out its requirements in respect of outsourcing and third-party risk management. More importantly, there is now little more than four weeks before the Supervisory Statement becomes effective. The enhancement of operational resilience within financial sector regulated businesses remains a key strategic priority for the PRA and […]
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 […]
ROCKSTEAD calls on lenders and regulators to address weak ESG data.
Rockstead, the leading due diligence and business review provider, has called on lenders and regulators to address weak ESG RMBS disclosure criteria and to increase the quality and quantity of disclosure requirements. Brian Pitt, CEO at Rockstead said: “There is a real and measurable demand from investors for green mortgages, but there remains a significant […]
Rockstead – Staffing Services in 2020
We are very wary of random statistics predicting annual market outturns, especially at the start of a year, but the early 2020 signs indicate that pent-up demand might finally be released. So why are we feeling positive at this time? Firstly, in respect of lending, UK Finance has reported that December 2019 lending saw an […]
‘Buy now, pay later’ market is an FCA target
Followers of FCA regulatory trends know that what appears in a consultation today is likely to become the rule tomorrow – or at least remarkably close. This shows the detailed thought process and analysis the FCA carries out before going public. The same can be said for information contained in FCA annual reports or outlooks. […]
