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RAMP members see record September

The Regulatory Association of Mortgage Packagers saw record completions in September.

Completions were 29% up from the same month in 2004 and overall showed a 26% rise, year on year.

John Rice, managing director of RAMP, says: “Good news in the mortgage market is in short supply at the moment but RAMP’s experience this year bucks the trend.

“On the anniversary of Mortgage Day, we can see this first year of regulation has been marked by a definite flight to quality.

“Without taking anything away from smaller companies, brokers and customers have seen the value in dealing with distributors who not only have good products but can also provide the comfort of robust compliance standards.”

Wayne Smethurst, partner at The Finance Centre, adds: “With its continuing sales success it is heartening to see the idea of forming a cooperative venture like RAMP, which brought together like-minded companies, has borne real fruit.

“TFC had a record September and our membership of RAMP has been a crucial component of our success.”


Elephant to seek AIM listing

Elephant Loans & Mortgages, the holding company of Elephant Loans, has announced its intention to seek a listing on AIM on November 18 2005. ARM Corporate Finance Limited is acting as the xompanys nominated adviser, with SVS Securities as its broker. Up to 21,666,666 new ordinary shares are being issued at 3p per share. Assuming […]

Simon Little, senior product and marketing manager, GE Life

“Regulation was painful initially but looking back, what was all the fuss about? Anything that gives comfort to consumers – and the Key Facts Illustration in the lifetime mortgage market has done that – is a good thing.”

Tackling ID fraud

The cost of corporate ID fraud could be as high as 50m per year and Equifax is tackling the problem with its newly introduced anti-fraud tools. Working in partnership with the Metropolitan Police’s Stirling initiative, launched earlier this year, Equifax has introduced two services to protect businesses. Stirling is the police initiative targeting criminals who […]

A thin argument for higher proc fees is better than none

From Richard Griffiths Jeff Sutherland-Kay is quite correct in saying my argument for higher proc fees is woefully thin (Mortgage Strategy Letters October 10) but you have to start somewhere. Woefully thin is better than nothing at all. With or without the co-operation of the lenders (probably the latter), I intend to put some meat […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


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