GE Money Home Lending has refuted accusations that advisers failed to disclose commission payments on a number of its sub-prime mortgages and loans.It has been reported that claims firm Loancheck has documents showing that commission was not disclosed on two cases by GE subsidiaries. Loancheck has confirmed to Mortgage Strategy that it has other cases against GE, which it is believed it will take up when it launches officially in September. However, GE claims Loancheck does not have a case against it. A spokesman for GE Money Home Lending says: “We have liaised exhaustively with our legal and compliance departments in relation to the Loan-check claims. “Our conclusion is that GE Money Home Lending has acted properly and lawfully.” But a spokesman for Loancheck says: “The information provided by GE under the Freedom of Information Act would prove otherwise.”
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Pink Home Loans 12th Pink 1000 Index Survey will be launched on Tuesday September 29. It will be asking registered intermediaries to provide their thoughts and opinions on interest only mortgages and will run until Tuesday September 12.The intermediaries who take part will have the opportunity of winning an Archos Gmini, a high tech video […]
The Financial Services Authority has fined The Ancient Order of Foresters Friendly Society 55,000 for financial promotions failings, including substandard television advertisements and direct offer packs which targeted elderly consumers. This is the first time the FSA has fined a friendly society for financial promotions failings. The FSA imposed the fine because Foresters failed to […]
The recent innovative move by Halifax to pay a full proc fee to an intermediary where they recommend a client to return to the lender has reignited the ‘whose customer is it?’ debate. This issue took up a proportion of the debating time at the Mortgage Summit in Jerez and was even the subject of Mortgage Strategy’s cover feature last week
Kent Reliance last week launched a ground-breaking mortgage that allows parents to pass on their interest-only mortgage to their children. The inter-generational mortgage aims to help first-time buyers get on the property market, as well as slash the amount of Inheritance Tax the children would need to pay. Kent Reliance says it is more of […]
As more and more employers reach their auto-enrolment staging date, thousands of HR, pensions and finance professionals have been tasked with navigating the minefield of ongoing scheme governance and auditing with little support.
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