FSA begins crackdown on mortgage lenders

The FSA also urged lenders to protect themselves against a potential worsening of liquidity and credit risks. Speaking at the Council of Mortgage Lenders’ annual conference, Clive Briault, retail managing director at the FSA, announced an urgent review into how lenders are complying with TCF when dealing with mortgage arrears and repossession. He says the number of repossessions has increased significantly from a low base and says the FSA expects lenders to meet its requirements set out in its mortgages conduct of business sourcebook. The FSA says it has seen some lenders consistently re...