Thursday, Jul 15, 2010
Protecting fools or lenders?
The Economist: Consumer choice or consumer protection: the next big policy debate
The FSA... To ensure better lending in the future, it wants lenders to take a much more stringent approach to assessing the affordability of the mortgages they offer. First, lenders will have to verify income for all sales... sounds like a no-brainer, but around half of all British mortgages in 2007 and 2008 were processed without income verification.
Posted by rental john @ 05:26 PM (270 views) Add Comment
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