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 the Financial Services Authorities (FSA) on Bank of Scotland (BOS) for failures within their systems to keep accurate mortgage records for its customers, highlights there […]
Tenant Arrears
A recent survey by a Law of Property Act receiver estimates that there are 99,000 tenants that are two months overdue on rent. This will be unwelcome news for any holder of a buy to let mortgage portfolio, and although it does not automatically follow that tenant arrears result in a landlord not being able […]
RMBS – is there hope on the horizon?
Bank deleveraging and cheap central bank funding schemes are constraining European securitisation volumes, and Standard & Poor’s Ratings Services believes that UK residential mortgage-backed securities (RMBS) issuance could fall again this year. That said, some specialised mortgage market segments – such as buy-to-let – have begun to slowly re-emerge, which could be mildly positive for […]
The next mis-selling scandal?
LPA receivers Rockstead is uniquely placed in the mortgage review market since we have business relationships with lawyers requiring expert witness services and holders of mortgage assets requiring servicer audits. Responsible partners often ask us to predict the next mortgage market issue so they can take a proactive role in the management of such issues. […]
Reviving the asset backed securities market
The Association for Financial Markets in Europe (AFME) has launched its Prime Collateralised Securities (PCS) label aimed at reviving Europe’s ailing asset backed securities market. The initiative will develop a badge for Asset Backed Securities (ABS) that comply with quality, transparency, simplicity and standardisation benchmarks to help restore secondary market liquidity and boost the investor […]
FSA Oversight
The recent announcement by the Financial Services Authority (FSA) that it expects bridging lenders to behave with “the same high standards” on unregulated business as on regulated business has opened up an interesting debate. We have long held the view that a regulated lender entity has an overriding responsibility to behave in an appropriate manner […]
Regulation of Credit Rating Agencies
The European Mortgage Federation (EMF) has recently reiterated their support for the European Commission (EC) proposal to amend the Regulation on Credit Rating Agencies (CRAs). In particular it supports the measures designed to reduce the risk of conflicts of interest and measures aimed at enhancing the quality and transparency of ratings. However, the EMF is […]
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 variety of loan book types, including prime rmbs, cmbs, auto financing and unsecured, and a common trend throughout the audits executed is a significant level […]
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 expert evidence only plays a minor part in such litigation, a number of the changes will directly affect, and should benefit, professional expert witnesses. One […]
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 […]
