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Will mortgage reforms kill off the recovery?

Source: The Independent
Banks : United Kingdom | about 1 month ago  
Views: 16
  • To match feature USA-HOUSING/MORTGAGES
    To match feature USA-HOUSING/MORTGAGES
    Source: Reuters
To match feature USA-HOUSING/MORTGAGES
During the property boom earlier this decade, the British mortgage market was infected by fraud and poor lending practices. Brokers and borrowers were exaggerating earnings, while lenders often neglected to make sufficient checks as to whether the person taking the loan could repay it. Meanwhile,...
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  • News Source: BBC | about 1 month ago
    The move is part of a review of how lenders behave by the Financial Services Authority watchdog. The government wants to make institutions liable for loans if it can be shown that they failed to check that would-be borrowers could afford them...The...
  • News Source: The Independent | about 1 month ago
    Self-certification mortgages were originally intended for the self-employed but were abused, leading to "bad loans" at major banks. They will be stopped under new regulations, which will be subject to consultation. In future, all lenders will be...
  • News Source: The Independent | about 1 month ago
    During the property boom earlier this decade, the British mortgage market was infected by fraud and poor lending practices. Brokers and borrowers were exaggerating earnings, while lenders often neglected to make sufficient checks as to whether the...
  • News Source: Androscoggin News | about 1 month ago
    In plans announced tomorrow, they will be forced to introduce checks to make sure homebuyers are telling the truth about how much they earn. That will mean buyers with debts or low incomes will not be offered high loan-to-value mortgages. Banks will...
  • News Source: Androscoggin News | about 1 month ago
    28pm Saturday 17th October 2009 Gordon Brown pledged to end "reckless" banking practices as the City watchdog prepared to set out its planned reforms for the mortgage market in the wake of the credit crunch. The Financial Services Authority is...
Blogs
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  • Blog Source: www.asean-society.org
    Watchdog to set out mortgage reform. by aseansociety on October 18, 2009. in World. Gordon Brown pledged to end “reckless” banking practices as the City watchdog prepared to set out its planned reforms for the mortgage market in the ...
  • Blog Source: popshizle.com
    Gordon Brown pledged to end "reckless" banking practices as the City watchdog prepared to set out its planned reforms for the mortgage market in the wake of the credit crunch.
  • Blog Source: www.washingtonexaminer.com
    A sweeping reform of the financial services industry is the latest installment of “change we can believe in.” Central to proposed Democrat reforms is the establishment of a new Consumer Financial Protection Agency. ... I reported a number of
  • Blog Source: www.karlbayer.com
    The Mortgage Reform and Anti-Predatory Lending Act of 2009 would amend the Truth in Lending Act of 1968. The bill provides that “[n]o residential mortgage loan and no extension of credit under an open end consumer credit plan secured by ...
  • Blog Source: www.housingwire.com
    ... credit protection for residential mortgage-backed securities (RMBS) than they could cover. Regulation of the OTC derivatives market was joined Thursday by consideration of another significant piece of financial regulatory reform. ...
  • Blog Source: progressivealaska.blogspot.com
    The abandoning of such products in mortgage writing led to the bubble and bust which drove our economy over the cliff. If there cannot be reform here, there really will be reform nowhere. In other words, even the centerpiece of Obama ...
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