Archives | January 2011



MMR – Regulators against self-certification

Date: 10 Jan 2011 | Expert Witness Updates | 

Recent Mortgage Market Review (MMR) consultations seem to confirm the regulators stance that self-certification mortgages should be consigned to history. Rockstead has never been anti self-certification. In fact, our view has always been in line with the Financial Services Authority (FSA) initial consultations, which were announced in their 'Dear Chief Executive' letter in February 2004 (before they took over the responsibility for mortgages). That letter predicated that genuine self-certification applications accounted for between 6% and 8% of the market and gave lenders guidance on how self-certification...



Portfolio Maintenance – Supplier Review

Date: 10 Jan 2011 | Asset Review Updates | 

We speak to numerous holders of mortgage portfolios and discuss how we can help them review their Third Party Suppliers (TPS) and ensure they are complying with their contractual obligations. They are often surprised that it's not just the Primary Servicer and Special Servicer we are referring to, but also Litigation Solicitors, Asset Managers and Debt Counsellors. A common question we are asked is 'doesn't the Servicer control them?' To a certain extent that is so, but the ultimate responsibility lies with the holder of the portfolio. We have carried out a number of TPS reviews and have...