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Cops want broker registration

A police report into mortgage fraud has called on the Financial Services Authority to individually register the UK’s estimated 40,000 mortgage brokers. The Association of Chief Police Officers made the call as part of its look at the growing problem of mortgage fraud. Richard Farr, director of the Association of Mortgage Intermediaries, says: “Everybody backs registration as long as the process is slick and we’re talking to the FSA about this.”

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Compulsory MPPI slammed

Proposals for a government-backed mort- gage payment protection insurance scheme have been slammed as inadequate by industry members. The Sustainable Home Ownership Partnership was proposed in a report published last week by the Joseph Rowntree Foundation as a way to help borrowers safeguard their homes in the event of un- employment, sickness or an accident. […]

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