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Self-certification mortgages likely to be banned
Self-certification mortgages likely to be banned The Financial Services Authority have drafted rules which would ban self-certification mortgages. Read more on The New Statesman
U.K. Regulator Calls for Ban on ‘Self-Cert’ Mortgages
U.K. Regulator Calls for Ban on ‘Self-Cert’ Mortgages The Financial Services Authority plans to ban self-certification mortgages as the regulator moves to crack down on risky lending. Read more on BusinessWeek
FSA to bring in affordability tests for all mortgages
FSA to bring in affordability tests for all mortgages The FSA has proposed that every mortgage should be submitted with proof of income in a bid to crack down on mortgage fraud, in a move that will effectively put an end to self-cert and fast-track mortgages. Read more on Money Marketing Online
Wealth managers target high-end mortgages
Wealth managers target high-end mortgages As wealthy clients move assets from cash into property, banks are out to generate business by bolstering their mortgage lending. Read more on eFinancial News
Bank Advertising Mortgages With Beverly Hillbillies-Style Cars [LOLCars]
Bank Advertising Mortgages With Beverly Hillbillies-Style Cars [LOLCars] # lolcars Canadian Bank ATB’s marketing cheap mortgages to passers-by with cars — like this Mercury Grand Marquis — piled high Jed Clampett-style with household detritus. Pack up the Tin Lizzie, ma! More » Read more on Jalopnik
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Who Would Finance Mortgages If Fannie, Freddie Disbanded?
Who Would Finance Mortgages If Fannie, Freddie Disbanded? Banks holding long-term mortgages on their books, as they did years ago, would be “a recipe for disaster,” says a professor of real estate and finance at Wharton. Read more on CNBC via Yahoo! Finance
Banks honor government July 1 ban on foreign-currency-based mortgages, but note risks
Banks honor government July 1 ban on foreign-currency-based mortgages, but note risks Major banks in Hungary on Thursday suspended receipt of new applications for foreign-currency-denominated mortgages in accord with a recent government decision to prohibit such mortgages effective July 1. Read more on Budapest Business Journal
Posted in News Also tagged banks, foreigncurrencybased, government, honor, July, note, risks Leave a comment
Personal Finance Daily: With reverse mortgages, there’s no easy answer
Personal Finance Daily: With reverse mortgages, there’s no easy answer Reverse mortgages are one of those products that seem like a really good idea in theory, but then you have to spend inordinate amounts of time figuring out whether the benefits outweigh the costs. Read more on Market Watch
Reverse Mortgages Look Better
Reverse Mortgages Look Better Upfront fees on reverse mortgages have fallen substantially in recent months, giving homeowners a new challenge: how to compare offers to find the best one. Read more on WallStreet Journal via Yahoo! Finance
Mortgages and business loans falling again