FROM OTHER NEWS SITES
DAILY TELEGRAPH Western female doctors kidnapped in Afghanistan - Wed, 23 May 2012 09:34:11 GMT
Western female doctors kidnapped in Afghanistan - Wed, 23 May 2012 09:44:48 GMT
FINANCIAL TIMES Morgan Stanley subpoenaed over IPO - Tue, 22 May 2012 18:10:04 GMT
Morgan Stanley subpoenaed over IPO - Tue, 22 May 2012 23:25:24 GMT
BBC NEWS BBC News - Business - Wed, 23 May 2012 09:23:06 GMT
BBC News - Business - Wed, 23 May 2012 09:33:05 GMT
Poll
Current Issues
New Issue
Special supplement
Special supplement
Jobs
Jobs of the Week
Independent Mortgage Adviser - Ealing / Chiswick
West London
Independent Mortgage Adviser - Ashford / Shepperton
Middlesex
Upcoming Events
NACFB: Maximise Your Membership Roadshow, Bristol
Government supports secondary mortgage market
The governmnet today said that it supported the secondary mortgage market, but it was paramount that it must operate in a transparent way.
The secondary mortgage market the government said previously made up 50% of mortgage capacity and it is therefore vital to the recovery.
However, as Prime Minister Gordon Brown pointed out, it must be a transparent market where the assets that are behind the securities that are being traded are identifiable .
In the past he said that the people dealing in these assets had no idea what was behind the assets they were buying, and that they had relied on triple A ratings that had been given by ratings agencies. It turned out these assets were loans made to people in the US who were barely able to pay the initial low rate of interest on the loans, and had no hope of ever repaying the loans, especially when rates increased.
- Brits set for several careers in their lifetime
- Concern over the effectiveness of the mortgage rescue plan
- 50 is the new 40………but only if you are 45!
- The nation's favourite tenant revealed
- RBS to lend an extra £6 billion
- Northern Rock to change tack
- BofE becomes commercial bank with £50 bn to invest
- Kent Reliance appoints insurance provider
- Government schemes to plug lending gap
- CML first response to Government package
- Lending industry reaction to new Government initiatives
- Paymentshield chosen by Home of Choice
- H M Treasury statement on financial intervention to support lending in the economy
- H M Treasury statement on the Government’s Asset protection scheme
- Treasury statement on restructuring its investment in RBS to deliver further bank lending to industry and homeowners