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Fitch confirms rating of RMBS from sub-prime lenders

Fitch Ratings has affirmed the rating of a residential mortgage-backed security originated by Advantage Home Loans, Amber, GMAC-RFC and Victoria Mortgage Funding due to its stable arrears levels.

Fitch says the affirmation of ResLoC UK 2007-1’s rating is a reflection of the relatively stable performance of the non-conforming RMBS’ underlying assets in the past year, despite a small rise in the volume of loans in arrears.

As of June 2011, the volume of loans in arrears of three months or more was 12.2% of the book, compared with 11.5% a year ago, with the balance unchanged.

Fitch says arrears have not deteriorated further due to the low interest rate environment.

As a result repossession levels have remained fairly stable over the past year, with outstanding repossessions at 0.7% of the outstanding collateral balance in June 2011.

But it adds: “Fitch remains cautious about the possibility of rising arrears and repossessions, especially if interest rates rise in the next 18 months. For this reason, the notes have been affirmed.”

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Bogus broker given a suspended sentence

A man masquerading as a broker has been convicted of fraud after pocketing a £5,000 arrangement fee from a client. The Birmingham Mail reports Mohammed Aslam was sentenced to 12 months in prison suspended for two years and 250 hours of unpaid work.

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In my opinion: Build up your defences against fraudsters

Fraud in the UK is a billion-pound illegal business with fraudsters targeting perceived weaknesses in systems. Be it individuals misrepresenting their own circumstances to obtain services that would otherwise be out of reach or the threat of identity fraudsters masquerading as someone else, fraud continues to be a major cause for concern among mortgage providers.

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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.

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