The Association of Mortgage Intermediaries has signalled its desire to work with mortgage lenders to resolve issues raised in today's FSA report on the sub-prime mortgage market.
Commenting on the report, Chris Cummings, director general of AMI, says: “AMI will work with its members to address the areas of concerns raised by the FSA. "We are also keen to set up a working party with lenders to discuss how we can work together on these issues.” The FSA today identified several failings among both intermediaries and lenders when selling sub-prime product to sub-prime consumers. Inadequate documentation on the reasons for giving advice was one of the major shortcomings identified in the report. Cummings adds: “AMI does not defend poor record keeping and we were surp...
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