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Lehmans’ ratings lowered

Standard & Poor’s has lowered the long and short term counterparty credit ratings for both Lehmans’ UK-based European arm Lehman Brothers International and Lehman Brothers Holdings from R to D.

It follows a review of the companies’ regulatory status in administration and the fact that Lehman Brothers International has been declared a defaulter by a number of different counterparties.


Market grapples with Lehmans’ demise

In last week’s column I said I thought there would be worse to come before we saw signs of a recovery, but little did I know that a major US bank was about to go down the tubes and HBOS would be swallowed by Lloyds TSB.

AMPD confident about the future

Andrew Hewitt, managing director of packager Oryen and spokesman for the Alliance of Mortgage Packagers and Distributors says it is well placed to tackle any problems in the financial market. Hewitt says: “The last 12 months have been difficult for the mortgage industry and packagers are not immune from the effects of global economic conditions.“PMPA […]

GEMHL reassures brokers

GE Money Home Lending has confirmed it is here to stay and has no intentions of exiting the specialist mortgage market, after dramatically increasing its rates yesterday.

HML backup servicer for Capstone

Homeloan Management says that as the backup RMBS servicer for Lehman Brothers in the UK, it could potentially have to take on more staff if Lehmans decides to dissolve Capstone Mortgage Services.


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