The pitfalls of direct mortgage lending

The sea change in reporting is also remarkable: it's far more muted than in recent years where banks were attacked for big profits. That's partly because profits are nothing like as great as they were at the height of the boom years. We've also experienced a crippling credit crunch so know that banks in profit are a Good Thing because a) they shouldn't need bailing out again and b) they will be able to start paying back the taxpayer all that money they borrowed. Getting to these profits has been painful, with job losses, branch closures and severe retrenchment. Many of the banks ha...