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MMR should reduce mortgage fraud

The Financial Services Authority says the Mortgage Market Review should lower mortgage fraud because lenders will be responsible for carrying out more checks on the mortgage application.

When questioned by Treasury Select Committee member Teresa Pearce today about the MMR, Martin Wheatley, managing director of the Conduct Business Unit at the FSA, told her: “We are requiring lenders to take responsibility.

“In the past they relied on third parties and agents to carry out checks, we are now putting the obligation back onto lenders and that should allow them to carry out better checks against potential fraud.”


Let’s hope the small positives consolidate

February has been and gone and for those of you running home and contents and general insurance books I think we can agree that 2012 has so far been okay, which should hopefully make it more likely that we’ll get profit shares from our providers. That said, one key issue emerging with our lender friends is that things are getting more difficult again.

Injecting QE into house building will work

Those of us in the house building world have been in the doldrums long enough now to grasp the straws of hope when we see them. And this year, thanks to the perfect storm of house building figures being at least 50,000 below target, the general economic malaise and rising unemployment particularly among young people, my long-suffering peers and I have a growing sense that next week’s Budget might just be the one to deliver for the industry.

Embrace simplicity!

By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]


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  • Glen McKeown 14th March 2012 at 8:41 pm

    Ensuring that there will now be two levels of checks should help to reduce the unemployment figures mentioned elsewhere. Doubt if it will reduce the cost of mortgages though.
    If there is problem increase administration – has anybody completed any research to see if there is a material statistical relationship between the two events – or is it merely a knee-jerk reaction?