Summary
Five so far unnamed mortgage firms face disciplinary action by the Financial Services Authority after a review highlighted shortcomings in the way "sub-prime" home loans have been sold to people with flawed credit records.
The regulator said it was "very concerned" with the findings and had started enforcement action - possibly leading to fines or other penalties - against five firms.See the full content of this document
Extract
Five Unnamed Mortgage Firms Face Action by Fsa ; Lending
The review found weakness in responsible lending practices and in firms' assessments of customers' ability to afford a mortgag...
See the full content of this document