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Paul Muolo

Clash of the mortgage titans continues

It’s not every day that Fannie Mae – a key provider of liquidity to US mortgage lenders – has one of its biggest clients tell it to drop dead.

MAB hits record profit of £1.9m

Mortgage Advice Bureau made a pre-tax profit of £1.9m for 2011, up from £1.25m in 2010, beating its previous record of £1.4m in 2007. The brokerage attributes its growth to a 30% rise in mortgage applications and increased sales of protection and general insurance. Peter Brodnicki, chief executive officer of MAB, says: “We are delighted […]

Cambridge and Saffron lending up

Cambridge Building Society has reported gross mortgage lending of £144.5m for 2011 – a 13% increase on 2010. Its 2011 results also reveal a pre-tax profit of £600,000, down from £1m in 2010. The society’s mortgage balances were up 8% on the previous year at £55.7m, while its savings balances increased by 7% at £940,999. […]

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