Monday, Aug 11, 2008
First in a rather long line - hopefully!! :)
City wire: Broker fined £100k over false mortgage applications
The Financial Services Authority (FSA) has fined a mortgage broker £100,000 for submitting false mortgage applications.
Posted by paranoia blue @ 04:07 PM (353 views) Add Comment
3 Comments
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1. mark said...
damn, i was going to go to that brokers for a million quid loan.......oh well suppose i will have to borrow 3.5 my salary now
2. Will said...
That's the fall guy then, don't expect any others.
3. icarus said...
Let me get this straight. The guy needs to overstate his own income in order to get a mortgage - yet he's able to pay a £100k fine. House prices really do need to come down.
I wonder if the FSA pays itself bonuses based on the fines they levy. I mean, on what other basis would the bonuses be paid?