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AMI suspicious about professor&#39s motives

The Association of Mortgage Intermediaries has accused Professor Miles of tailoring his report recommendations to the FSA&#39s remit in the knowledge that he was soon to join the regulator&#39s board.

Miles joined the FSA board last week as a non-executive director but the appointment was made before his report was completed and delivered to the Treasury last month.

AMI director Chris Cummings, speaking last week at a round table organised by Zurich Mortgage Network, told delegates: “This may sound cynical but Professor Miles&#39 findings fit amazingly well with the remit of the organisation he is about to join.”

And Cummings tells Mortgage Strategy: “Too many people in the industry have not joined the dots about Professor Miles&#39 report. He is a shrewd individual and it is no coincidence that he should make his recommendations into actions for the FSA to take just as he takes up a position on the regulator&#39s board.”


Friends Provident reveals details of mortgage panels

Friends Provident has announced details of its mortgage panels, which are available through its Friends Mortgage World mortgage proposition. The mortgage panels cover all sectors of the marketplace and all aspects of business associated with mortgages and follows extensive consultation, research and analysis of the marketplace. The FMW panel sectors will be divided into three […]

Exclusive: Fannie Mae may have to restate prior years&#39 earnings, warns US regulator

Fannie Mae may have to restate prior years&#39 earnings, the US Office of Federal Housing Enterprise Oversight has revealed. Following a forensic accounting review by its regulator, the OFHEO also noted that a restatement of Fannie&#39s capital calculations is a possibility as well. OFHEO made the disclosure in a release on fourth quarter capital calculations […]

Threesixty links up to Trigold&#39s Prospector and Compliance Shield

Threesixty has announced its clients will be offered access to its mortgage panel through Trigold&#39s Prospector sourcing tool. In addition, threesixty is also offering full compliance monitoring to over 500 IFAs and mortgage brokers, via the Trigold Compliance Shield system. Phil Young, partner at threesixty, says: “With regulation looming we felt compelled to evaluate the […]

Abbey should learn from the BM website

During last week the upward trend in swap rates of the past month continued, making it unlikely that any lenders will price downwards unless their treasury departments are feeling brave and have deep pockets. • One-year money is up 0.07% to 4.71%• Two-year money is up 0.08% to 4.84%• Three-year money is up 0.08% to […]


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