Tuesday, July 22, 2008

Sharks, shisters, and just plain crooks….

17 mortgage brokers banned

The Financial Services Authority (FSA) has banned 17 mortgage brokers so far this year, three times as many as it took action against during the whole of 2007.

Posted by whostolemyendowment @ 02:58 PM (645 views)
Please complete the required fields.



7 thoughts on “Sharks, shisters, and just plain crooks….

  • A variety of factors over recent years have helped fuel the rise in UK residential properties but one which is very much misunderstood and underestimated is fraud, including mortgage fraud – it will (IMO) take years before the true level of fraud operated in the market is revealed to the public at large.

    Reply
    Please complete the required fields.



  • Jack c @ 1.

    Agreed. The level of mortgage fraud (mostly self certification) will indeed take years to be revealed. I suggest that bankruptcy courts take note of how many people obtained fraudualant mortgages and, I know it’s tough, they should be persecuted (sorry prosecuted) as should all the brokers that it can be proven helped in carrying out the fraud.

    Wow a whopping 17 brokers. It appears that almost all of these were just villains. Mostly con men or just not advising people correctly (or to their own ends). No-one appears to be thinking there is a sub-prime market here. Oh well I’d better get back to the parallel universe most of the population inhabit!

    …. now where’s my copy of heat magazine!

    Reply
    Please complete the required fields.



  • How many will be charged with Criminal Deception and go to prison ?

    Reply
    Please complete the required fields.



  • The Bankers have been shorting everything in sight. They are putting their profits away for that rainy day when the companies they work for go bankrupt.

    The golden goose called Financial Services has been stabbed in the back by people looking for the source of golden eggs. Start thinking about a time without Financial Services in the UK. The big banks are slipping down the league. Overseas, new operations are coming on stream.

    There won’t be a place for London much longer in the financial markets – that means no taxes paid to Captain Darling. All we will have is government services….and of course …. lots and lots of irrelevant jobsworth directorates with no cash to spend.

    Reply
    Please complete the required fields.



  • What I don’t understand this has been going on for a decade why only now.
    Why was it not fashionable to hold the market when it was rising absurdly.

    Reply
    Please complete the required fields.



  • 3. Will said…
    How many will be charged with Criminal Deception and go to prison ?

    The problem is : Criminal Deception is practised Ad nauseum by certain Politicians under the guise of ‘Prudence and Stability.’

    Cardinal Virtue? God help us!

    Reply
    Please complete the required fields.



  • it_is_going_with_a_bang says:

    17!?

    Should be nearer 2000. Thats being generous.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>