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Broker Talkback

Do you agree with Council of Mortgage Lenders’ chairman Matthew Wyles that lenders were not to blame for the current ‘dysfunctional’ mortgage market?

No 100%
Yes 0%

No “Purely on the basis that they didn’t pipe up in the months and years before this all happened.”

Rob Simpson, Simpson Financial Services

No “Mortgage lenders are to blame because they made poor decisions on the criteria for lending.”

Athol Bruce Burke, Bruce Burke & Co

No “I don’t. They were more than happy to lend money to people who could not afford it in the last 10 years.”

John Abbott, Libra Financial Planning

No “The lenders are not blameless, but at the same time it is not fair to put the blame on just one group. The Government and many other groups had a part to play.”

Joanne Adamson, Slater, Hogg and Howison

No “The lenders are the architects of their own misfortune. Some of their lending practices were ridiculous, so they should take most of the blame.”

John Fachiri, John Fachiri Ltd

No “They are to blame, they should have done proper due diligence and had risk assessment tools in place like we do. They were warned but they kept fast-tracking loans.”

Mark Dutton, Keyline Financial Services

No “Of course they were to blame. It was indiscriminate lending, they all tried to outdo each other on who could get the most business and they weren’t interested in the quality.”

Alan Thompson, Alan Thompson Financial Services

No “They were partly to blame because of reckless lending.”

Andrew Walker, Arthur E Walker & Co


On the Bright side

I ended up in this industry as a result of a three-week rugby tour to the US. At the end of the tour, I missed my plane home (don’t ask), met a girl, married her and, having obtained my Green Card, followed the very pointed advice of my new mother-in-law to “find a proper job”.

Analysis: US banks under stress

Ten of America’s 19 largest financial institutions might be required to raise a total of $74.6 billion (£49.5 billion) in capital, according to the official American “stress tests”.The institutions had to undergo the stress tests, officially known as the Supervisory Capital Assessment Program (SCAP), so that regulators could determine whether capital buffers were sufficient enough […]


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