Saturday, Apr 21, 2007
Allow for 20%, ,perhaps up to 40% reduction in prices
Firstrung: Lenders should allow for at least a 20% fall in house prices - FSA
Risks in the mortgage market, a regulator's view. Speech by Clive Briault, Managing Director, Retail Markets, FSA
Council of Mortgage Lenders Annual Lunch 20 April 2007..."When lenders are calculating their Loss Given Defaults on mortgage portfolios they should allow for a 20% reduction in house prices, and a further 20% reduction from forced sale after a property has been repossessed; and should allow for 35% of loans in default to end up in repossession."
Posted by converted lurker @ 01:06 PM (187 views) Add Comment
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