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Stellar Wit

Mole was pleased to see that despite the global recession the mortgage industry has not lost its sense of humour. Arriving at work on April 1, Mole noticed a few dubious stories appearing on the newswires.

Top marks go to Exact for launching its Mortgage Asset Reduction Strategies (MARS) range, with the products being designed by Exact’s head of product development, Avril Thirst.

The range includes MERCURY – the Mortgage Extension Repair Centre for Unemployed Remortgaged Yuppies, and STAR – Exact’s Strategic Toxic Asset Radar.

Alan Cleary managing director of Exact, says: “You’re going to LOVE our new VENUS product – Very Expensive New Ultimate Strategy. It’s universally applicable to troubled mortgage assets in the current economic environment. This suite of products is being heralded as a solar system of products that are out of this world.”


Woolwich boosts daily tranche level

Woolwich has increased the level of tranche funding available through its fund booking line to an estimated daily tranche of £65m.


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