sub prime
Ratings agencies have refused to apologise for mistakes made in the run-up to the subprime mortgage crisis – and warned more errors could be made in the future.
Investec is planning to securitise £250m worth of ‘non-standard’ mortgages, including self-certified and subprime home loans in the UK.
State-owned Lloyds Banking Group (LBG) and Royal Bank of Scotland (RBS) are offering preferable mortgage borrowing terms to some of their high net worth customers for the first time since the start of the credit crisis.
Other sub prime articles
Prime Minister Gordon Brown wants the FSA to probe Goldman Sachs after the SEC announced it was suing the company for sub-prime related fraud.
Former Federal Reserve chairman Alan Greenspan has defended his economic policy record at a US congressional hearing into the financial crisis.
Two Bear Stearns hedge fund managers have been found not guilty of fraud.
The recent £900 000 fine levied on the Thinc Group could pave the way for more claims in the financial services sector, warns Browne Jacobson, the specialist insurance law firm.
Rooftop Mortgages, US investment bank Bear Stearns’ specialist lender, will close at five o’clock tomorrow afternoon.
Lincoln Unit Trust Managers has moved to quell investor sub-prime related fears, saying the hype may be “overdone”.
Specialist lender db Mortgages has appointed Louise Young to its account management team.
Two-thirds of mortgage lenders will continue to invest in IT systems over the next two to three years despite heavy investment during 2004 to meet the requirements of the Financial Services Authority, research reveals.
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