Our news stories can be in the form of e-shots, ‘white papers’ or social media commentary, but we will not comment on trivial matters – you will not see us mentioning on what type of coffee we are drinking whilst waiting for a train! You can catch up on our previous commentaries below.
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Regulatory changes – putting the consumer first
Whether holding asset or actively lending, it is vital that businesses are putting the consumer at the heart of their business models and strategies. The Financial Conduct Authority (FCA) suggests…
Regulatory Update – Ireland
In the UK the face of regulation has changed dramatically and the implementation of the Mortgage Market Review (MMR) in April 2014 adds to the issues lenders need to consider.…
Due diligence on third party suppliers
At last we are seeing significant uplift activity within lenders in the generation of new residential mortgage business and the time will soon come when the “spotlight” turns to the…
CCMA Webinar Briefing Notes
Thank you for your interest in our recent WEBINAR briefing on the revisions to the CCMA. We had good attendance levels and a significant number of questions after the event…
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…
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…
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…
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…
Jackson Reforms – our view
The ‘Jackson reforms’ have now been implemented. Although primarily aimed at an overhaul of personal injury litigation, the reforms will have consequences for all commercial litigation. Despite the fact that…
Data Integrity Verification – our recent experience
Since expanding operations into Ireland and Spain, we have undertaken a number of loan book audits on behalf of purchasers. We have been involved in the assessment of a wide…
Tick Box Underwriting
We have noticed an increasing number of articles in the trade press aimed at persuading lenders to move away from ‘tick box’ underwriting to a more personalised approach to assessing…
Are customers getting a fair hearing?
It is not easy ensuring that operations areas within lenders and servicers are adhering to internal or external standards when dealing direct with consumers, particularly by telephone contact. There is…
Risk Identification
When driving a car it’s obvious that you need to keep your eyes on the road ahead, but it’s a poor driver who does not look in the rear view…
Interest Only is it really a ticking time bomb?
The MMR clearly retains the overarching ‘responsible lending’ rule, but one of the key elements of the reforms specifically focusses on interest only. In a nutshell, from April 2014, when…
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…
Can you afford not to keep your records up to date?
We first reported on the accuracy of data held by lending institutions in June 2011, but it appears the issue is far from being resolved. The recent fine levied by…
