Stuart Jennings, head of European RMBS at Fitch Ratings, said: “We believe the proposals could potentially add additional risks to the process of house purchase and the underwriting of mortgage loans by lenders. It could therefore also impact those investing in UK RMBS.”
Select & Protect backs FSA’s review of PPI
Select & Protect has backed the FSA in calling for a review of payment protection insurance (PPI). Following the Citizens Advice Bureau’s recent report on the selling of PPI, Select & Protect has said it supports the FSA’s announcement that it is to review and improve standards within the PPI sector.
PYV launches new PII rates for brokers
PYV, a professional indemnity insurance (PII) broker for mortgage intermediaries, has negotiated improved rates for intermediaries with one of the largest worldwide insurance companies, St. Paul Travelers.
The rates will be available to all types of brokers, ranging from networks to ‘one-man-bands’. The rates also extend to general insurance as well as term life activities.
In the 15 October issue of MI, the news story ‘Trigold heads up ‘next generation’ system for apps’, contained a quote from Sean Hornsby, managing director of Mortgage 2000. The quote contained the word ‘repopulation’ throughout. It should have said ‘pre-population’. We apologise for any confusion caused.