The FSA has hit out at suggestions it is “steam rolling” through the mortgage market review and says it is taking its time to get things right.
Speaking at a conference organised by Money Marketing’s sister title Mortgage Strategy yesterday, FSA manager of mortgage policy Lynda Blackwell said the regulator is not going to implement policies without listening to the industry.
She said: “We read comments about the FSA ‘steam rolling’ through the MMR and criticism that we appear determined to implement a particular set of regulatory measures irrespective of their impact on the economy and the market, and irrespective of the views of others.
“Well – that’s wrong. We are in the middle of a process which involves engaging stakeholders through consultation papers to assess what changes should be made to improve the effectiveness of the mortgage market.”