With the arrival of Mortgage Day, I would like to congratulate the Mortgage Code Compliance Board on the achievements it has made. In particular on producing an exam system which has had the desirable effect of excluding a substantial number of advisers from the industry – that is those who should not have been there – and introducing a proper regime and structure into the market.
I believe the MCCB has improved the standing of the mortgage industry considerably and by introducing professional standards has improved our perception in the public’s eye, despite the best efforts of the Consumers’ Association and the press. And all on a limited budget.
We now look forward to the FSA regulation on a vastly increased budget. An organisation that has managed, in a relatively short space of time to completely destroy public faith in investments and appear to be doing their best to destroy the entire industry.
Perhaps it would have been better if the MCCB took over the FSA rather than the other way round.
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