IMLA slams FSA's negative approach to mortgage market

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The Intermediary Mortgage Lenders Association (IMLA) has criticised the FSA for its downbeat approach to the UK mortgage market.

The association also claims while its members take TCF principles seriously, they must also ensure confidence in the quality of mortgage assets to keep financial markets healthy. Responding to Clive Briault’s speech to the Council of Mortgage Lenders, in which he launched a thematic review into lenders’ handling of arrears and repossessions, IMLA said the comments were not helpful in restoring confidence in the UK mortgage market. Peter Williams, executive director of IMLA, says: “At IMLA we are surprised the FSA is adopting such a downbeat approach, and that they are omitting to highligh...

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