CMC Risk Update
We are aware that Claims Management Companies are facing some real challenges at the moment but there is a further regulatory change that is on the way. We have produced a Risk Update for your information, which focusses on the Senior Managers Regime (SMR). This is the first of what will be a series of […]
Senior Managers Regime (SMR)
The SMR regime came into force on the 7th March 2016 for individuals working in banks, building societies, credit unions and Prudential Regulation Authority (PRA) designated firms. What is not apparent to many is that the legislation will be extended to cover all companies authorised under the Financial Services and Markets Act 2000 (FSMA) by […]
Reputational Risk
Reputational risk is a hidden danger that can pose a threat to a company resulting in lost revenue or increased costs. At its most destructive it can wipe out millions of pounds in market capitalisation and can result in significant changes to the management structure. Arguably a lot of problems can be mitigated by strong […]
Back to basics with loan data
As the only truly independent due diligence provider in Ireland, we have been involved in most of the loan sales activity over the last four years. Our involvement has included data, compliance and process reviews as well as full due diligence exercises, but we remain to be convinced that companies selling loan portfolios are managing […]
New Lender Origination Reviews
A recent freedom of information request submitted to the Prudential Regulation Authority (PRA) by a leading industry magazine has revealed that, since January 2016, 13 banking licence applications have been submitted to the regulator. A number of new mortgage lenders have also been authorised and launched during the same period. The New Bank Start up […]
Higher Income Multiples – Back to the “Noughties”?
In the ever-evolving financial services market, changes announced by the Prudential Regulation Authority could herald a change of strategy for some of the more traditional mortgage lenders. With capital adequacy requirements due to become slightly less onerous for smaller banks and building societies, rule changes could make it easier for borrowers to obtain mortgages on […]
Lending opportunities in Iberia
We have seen more activity in Iberia over the last 3 months than has been evident for some time. We can specifically see several niche opportunities within the lending origination space, either as a lender or by providing warehouse funding to a third-party originator. Some of these potential opportunities exist within the following sectors: In […]
Cup half full or half empty?
2017 has been another year where the financial services arena has continued to be subjected to more than its fair share of change and regulatory scrutiny. In the mortgage market, gross lending has held up against 2016 figures despite some predictions of doom and gloom in the Buy to Let sector. Undoubtedly, there are some […]
Are you learning from your complaints?
The Financial Conduct Authority has recently published data on the number of complaints reported by firms for the first half of 2017. A staggering total of 3.32 million complaints were received in the first half of 2017, up 10% from the second half of 2016. General administration and customer service complaints have risen from 27% […]
Assessing affordability – The challenge for all lenders
The FCA has turned its attention to consumer credit lenders and peer to peer platforms with the spotlight on poor practice and culture when assessing affordability. It is an area which has been on its agenda for some time and the recent consultation paper will go a long way towards addressing the concerns. The FCA […]
