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Ward wants Euro Freddie/Fannie to restart securitisation

Homefunding chief executive Tony Ward has called for a European Freddie Mac or Fannie Mae organisation to reignite the securitisation market.

Ward, who recently became a director of the Intermediary Mortgage Lenders’ Association, believes that the only way to address the core problems of the funding crisis is to get securitisation out of the “sin bin”.

He says: “We need European-wide guarantees and they need to be explicit, not implicit. It would be nice to see a Freddie Mac or a Fannie Mae institution across the continent.

“There is substantial stock out there with arrears building up, creating significant problems. At least it is on the Government agenda but it has to make sure it addresses the causes and not the symptoms of the credit crunch.”

Checkmate Mortgages executive chairman Stephen Knight says: “I can see the merits of a European Freddie and Fannie but we would need European-wide action from the authorities working in unison and the chances of that happening are very far-fetched.”


Theory and practice

Chris Gilchrist’s recent article on asset allocation identifies the most critical issue facing most IFAs – how to undertake asset allocation following the recent and continuing market turbulence.

Latest fund analysis from OBSR

The latest analysis of the fund factsheets downloaded from Old Broad Street Research show that time served managers are proving popular.

Industry under fire over pension freedoms

By Jamie Clark, Business Development Manager, Royal London Recent articles in the media have raised concerns about the new pension freedoms. One perceived problem is that across the industry, trustees and providers are not necessarily allowing people to take full advantage of the pension freedoms in situ. This is backed up by a recent survey by […]


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