Mortgage lenders have embraced the Financial Services Association's (FSA) treating customers fairly (Tcf) initiative but brokers have some way to go, the Intermediary Mortgage Lender's Association (Imla) has said.
The Financial Services Authority (FSA) has fined intermediary mortgage firm Rainbow Homeloans £35,000 for systems and controls failings which, it says, exposed around 1000 people to the risk of being sold unsuitable products.
Research into top mortgage brokers identified by advertising "visibility" through television, press and the internet suggests the level of broker fees charged may be linked to how financially desperate customers are, and could be contrary to the FSA's...
The Association of Mortgage Intermediaries has published a factsheet on how to incorporate the FSA's Treating Customers Fairly regime into business processes of smaller intermediary firms.
Clerical Medical is launching a series of seminars for intermediaries on the structure, planning and implementation of the Treating Customers Fairly (TCF) regulations.