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hoario54

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About hoario54

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  1. I am an avid reader of HPC and rarely post, but thought I should point out that... "...aren't we still on the hook for losses over 10% of the RBS APS?" ...we are not. RBS left the APS in October after paying £2.5 Billion in fees but never had to use the scheme. Since the start of 2009 RBS has reduced its "toxic assets" (much of which was covered by the APS) from £258 Billion to £70 Billion this year. Apologies for not being able to quote properly or provide links but my phone is useless on forums for anything other than reading!
  2. I heard about this a few days ago and I wasn't overly surprised, I expect a few more retailers of the same style to go over the next year or so. The only downside for me is that they are the only distributor for Bose Professional products through their two brands, Sound Control/Turnkey and I wanted to place an order. I'm sure they would love the money now... Guess I'll have to wait for Bose to sort out a new distributor...
  3. If you click on the main link that pops up the media player you will see two further links below. You need to click on "Housing market: expert analysis"
  4. Is it some form of missile theme park?
  5. A friend of mine works for GMAC (in underwriting no less) and I am told they have enough funding in place to generate new loans until November. Of course they hope that the current credit crunch will be over by then and new funds will be easily obtained. There is no back up plan so if the crunch continues to bite they won't be having a Christmas party... Another nugget I was given is that they were receiving around 450 applications a day into August, they now average 36...
  6. Fair point. Poor old Stephen Knight might have to rewrite his new book...
  7. They do indeed and also pioneered online "binding" lending decisions that (would you believe) only bothered to check the facts behind 1 in 10 applications. However they also reguarly sold vast tranches of loans on over the last 3 - 4 years so their actual exposure to bad debt on their loan book may be pretty small in the scheme of things.
  8. Where exactly do you get the figures of between £600 - £800 from? I work for a HIP provider and the average cost so far is around £350. The £600 - £800 figure would be more accurate if an HCR was included.
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