Sub-prime lender the I-Group says it is hoping to operate within the mortgage code following severe criticism from rivals that it is ducking responsibility by failing to do so.
The sub-prime lender has been widely criticised by competitors for failing to operate under the rules set out by the Mortgage Code Compliance Board.
I-Group, which previously traded as Ocwen, says it had to get its own house in order before it joined the code.
The lender says it wanted to wait and see where regulation was going before it joined the MCCB.
A company has to have been trading for more than 12 months before it can join the compliance board.
I-Group says it is a “grey area” whether it could have joined as I-Group because it had already been operating as Ocwen.
Nuki's eye
It is the silly season and here I am away from it all in Italy, home of the perfect racing bike and ripe tomato.To say that life is good here is not enough. It is great. The villa is an old barn with a red-tiled roof that sits on a small mountain at the end […]
More lenders look to join Mortgage Trading Exchange
Software provider Mortgage Brain says it has signed up three further lenders to its proposed electronic trading platform Mortgage Trading Exchange.It is unable to disclose the identity of the lenders but says they are joining the ranks of around 20 lenders in talks with the company with a view to operating through MTE.The service is […]
When the Sipp comes in
I am 52 and do not expect to want to take all the proceeds for at least another 10 years. How should I invest the fund of some £300,000 for best effect?If you wish to take any of the fund as tax-free cash, you will have to take it now. Once you have started to […]
Skill shortage predicted to boost group PMI…
Private medical insurance specialists are anticipating a boom for IFAs as companies turn to healthcare packages as a way to attract and retain key members of staff.The trend could give IFAs an ideal opportunity to approach corporate clients about the various benefits available to their staff.As the talent pool bec- omes stretched, PMI experts say […]
Bonds going bust? Not so fast….
In recent months bond bears have been reinvigorated, and market commentary suggesting “the end of the bond (bull) market is near” has become commonplace. We think these comments are premature. Explaining the global government bond sell-off October has seen renewed pressure on global government bonds, initially provoked by a Bloomberg article suggesting that the ECB […]
Newsletter
News and expert analysis straight to your inbox
Sign up
MP tables motion to thank British Steel financial advisers
Liberal Democrat MP Stephen Lloyd has tabled an Early Day Motion in parliament to thank advisers who assisted Port Talbot-based steelworkers disadvantaged in the British Steel pension saga. Lloyd, the Liberal Democrat MP for Eastbourne tabled the motion this week as the party’s frontbench spokesman for work and pensions. Henry Tapper: ‘We’ve really made a […]
Govt names new guidance body chief
The chair of Thurrock University Hospitals NHS Foundation Trust, John Govett, has been appointed as the first chief executive of the government’s new single finance guidance body. The Department for Work and Pensions says Govett will assume the post in October for a term of four and a half years. The new guidance body brings […]
Emma Thomson: How a charter can make protection claims right
The Protection Distributors Group has launched a Claims Charter to address weaknesses in the claims process
Comments