Lenders could be hiding fraud losses

Jones, Lee
September 2009
Money Marketing;9/10/2009, p3
The article reports on the admonition of experts concerning the possibility of lenders to hide mortgage fraud losses on their balance sheets in Great Britain. Matthew Wyles, nationwide group director who warned the industry on new build buy-to-let lending in 2005, notes that lenders may not want their fraud problems to be known by the public. It is noted that Chelsea Building Society and Bradford & Bingley PLC have respectively made fraud provisions of 41 million pounds and 271 million pounds.


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