Jury still out on mortgage regulation says CML

The CML says the transition from the Mortgage Code to FSA regulation has been a success in operational terms and that consumers did not experience disruption, industry systems coped. There also appears to have been little impact on business volumes arising from the regulatory change, it says. But there is a more negative picture on costs. With transitional costs weighing in at double the FSA's original expectations, this raises a question about whether the costs of regulation are, in practice, proportionate to the benefits, argues the CML. This provides all the more reason for the FSA to ...