Dangers of Real Estate Owned (REO) portfolios in Catalonia
A new Law Decree was implemented on 27 March 2015 by the Generalitat de Catalonia, together with further rules set by the Law Decree 67/2015 dated 5 May 2015, which may affect portfolio investments from a timing and cost perspective. The first new law adopts a series of measures e.g. communicating formally to the Agència […]
Growth in lending from new and existing players
Following on from last month’s update, it is encouraging to observe that the funding constraints and difficulties of the past few years appear to be rapidly disappearing. This is evidenced by the announcement of a new lender to the market place, backed by a global investment firm, who clearly has no issue in providing both […]
The importance of external, independent quality control
Internal quality control (QC) allows organisations to monitor how they interact with their customers and to ensure that their objectives in achieving compliance with law, regulations and policies, operational effectiveness and efficiency are being met. In particular, financial services companies have significantly increased their resources in recent years, mainly driven by the necessity to ensure […]
Oversight of lenders by funders
The wholesale funding constraints which have affected the mortgage industry for over seven years are now starting to “thaw” rapidly. This is a result of more appetite for asset backed securities, keener pricing of them and recognition that the housing market, whilst not completely recovered, is in a lot healthier state. One question for funders […]
Data: An Asset or a Liability?
Over the course of the last 5 years, we have seen numerous examples where data integrity issues have resulted in delays in the transfer of loan portfolios and in some cases that has meant significant reductions in pricing. Other implications of holding poor data which is not updated or verified on a regular basis include […]
The importance of supplier Due Diligence
There have been a number of mortgage and loan book trades over the past 6 months, with more on the horizon as a more favourable funding environment appears for new originations, together with increasing appetite for residential and commercial mortgage backed securities throughout Europe. As this market recovers, there should be great opportunities for service […]
Rockstead appoints Managing Director Ireland
Rockstead UK, the expanding due diligence and audit business, has appointed David Guinane as its Country Managing Director in Ireland. Guinane, who has vast experience of the lending market, is a former CEO of permanent tsb and Managing Director of Capital Homeloans in the UK. He is currently Chair of the Financial Education Advisory Board […]
Mortgage Market Review – behind the headlines
FCA review Over a month has now elapsed since the implementation of MMR and the news headlines are proving interesting. The national press is concentrating on how intrusive the information required by lenders is when assessing client’s income and particularly expenditure behaviour. The answers to these questions subsequently determine the amount clients can borrow. The […]
Mortgage Market Review – behind the headlines
Formal testing of the MMR process In the same way that Mortgage Regulation Day in 2004 was not simply a one day wonder; the same will apply to the launch of MMR. This commentary is focused on how the FCA will assess the success or failure of the implementation of MMR and what areas will […]
Mortgage Market Review – behind the headlines
Transitional and contract variations For our second commentary on the detail behind the MMR, looking at the less obvious effects on lenders, home finance providers or loan administrators, we are focussing on contract variations. With the 26th April fast approaching the market place has seen an overload of information about how brokers and lenders propose […]
