Why Did Northern Rock Call In The Bank Of England?
Posted on March 20, 2008 - Filed Under Uncategorized | Leave a Comment
The confirmation by the Bank of England of support for Northern Rock plc on 12 September 2007 is the first major sign of international fallout from the collapse of the US subprime mortgage lending market. In the US, lenders such as New Century Financial Corporation, the second largest subprime lender in California, have gone bankrupt. In the UK, as Northern Rock is classed as a bank, the authorities intervened in order to prevent market panic. There have been persistent rumors that several leading UK banks, including Barclays, have liquidity issues and the Bank of England wished to send a clear signal that no major bank will be allowed to fail.
Read More..>>Fraud In The Mortgage World, Where Is It? Is The Option Arm A Fraud Product?
Posted on March 9, 2008 - Filed Under Business | Leave a Comment
The more I chat with folks the more I realize something. Where is the fraud in our business? I talk with LO’s, I get emails from Brokers and AE’s, network with title reps, but no one claims they purposely commit fraud. I wonder why that is?
When you stop chuckling, you can understand the humor in that opening line, right? What I’m saying is that I’ve never heard anyone say they don’t do things right. Oh sure, people cut corners all the time, but purposely commit something that could be viewed as fraud? No way!
Read More..>>Mortgages For Overseas Property
Posted on February 26, 2008 - Filed Under Business, Education | Leave a Comment
For most people, buying an overseas property is a dream. However, with all the intricacies and complicated procedures with overseas banks, developers and solicitors, a lot of people get discouraged with the concept. However, the overseas property mortgage in the UK has undergone a sudden surge in the recent years.
This can be attributed to the growing number of people wanting to buy properties abroad for reasons of settlement or property investment and actually do something to achieve it. The majority of these people are retirees seeking a more peaceful abode, while at the same time enjoying tax benefits.
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