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AA Mortgages

Bloomberg - About 30 percent of the firm's fixed-income revenue came from mortgages and related securities before those markets froze, according to estimates from Bernstein's Hintz. Read More

Bear Stearns Shares Fall on Liquidity Speculation (Update6)

Caspar Star-Tribune - The Mortgage Bankers Association, in a quarterly snapshot of the mortgage market released last week, said the proportion of all mortgages nationwide that fell into foreclosure shot up to a record high of 0.83 percent in the October-to-December quarter Read More

Wyoming bucks housing trends

Daily Mail - Air passenger duty to be replaced with a tax on airline journeys, • Fixed-rate mortgages for up to 25 years to be made more ... The AA, RAC Foundation, Petrol Retailers Association, and the British Chambers of Commerce have joined forces with ...  Read More

Milking the middle class: Darling to cash in with tax rises on alcohol ...

Marketwatch - ... have gotten more stringent than they were last home buying season, as lenders try and reign in risk at a time when home prices are dropping. Buyers are generally required to have higher credit scores and bigger down payments. Read more on mortgages. Read More

First-time dilemma

KPVI Newschannel 6 - However, the companies also started insuring collateralized debt obligations, which invested in subprime mortgages of varying ... It carried no insurance, even though the bond was rated AA+, not quite the highest rating. "It was sold at a record-low ...  Read More


Nemo Loans
 

 
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But in its review of compliance by small mortgage brokers were failing to comply with rules designed to stamp out mis-selling.
 
Andy Watson, head of the FSA's mortgages and credit union department, said: "Where we find examples of possible inflation of incomes, we will make further inquiries which may lead to referrals to enforcement."
 
A further review of small mortgage firms' activities in the self-certified market, where borrowers certify their own incomes, and will publish its findings this autumn. The FSA assumed oversight of mortgage regulation since October at the request of the government. The mortgage industry has about 2.75m consumers each year and the property market is worth about £3,000bn.
 
Companies that grant loans to people with poor credit histories have been warned they could face enforcement action after the Financial Services Authority discovered three small mortgage brokers published yesterday, the FSA said there was little evidence of how the brokers' recommended sub-prime product met the customer's needs and circumstances.
 
Since October companies have been required to supply customers with an initial disclosure document, which details the services it provides, and a key facts illustration giving personalised information about costs and risks of products. The documents are part of the regulator's drive to improve customer understanding of mortgages.
 
The FSA is also conducting a review of small mortgage firms' activities in the self-certified market, where borrowers certify their own incomes, and will publish its findings
 

 

 

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