Friday, Aug 29, 2008
So called Mortgage Professionals exposed
Guardian: Mortgage fraud adds to Bradford & Bingley's woes
In June B&B revealed a £15m charge to cover losses from fraud..........Chairman Rod Kent explained that most of the scams uncovered in the last six months related to the activities of mortgage professionals and had come to light as a result of falling house prices. He said the alleged culprits were being pursued by the police and the regulator.
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Posted by aje141269 @ 08:04 PM (255 views) Add Comment
2 Comments
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1. alan said...
Were any of the applications properly checked?
2. renting2 said...
Obviously not alan. I bet that, with underwriters now worrying about their jobs, every application gets a real good stringent going over, just so they can justify being there. That might lead to a lot more refusals adding a little bit more to HPC.