TITLE

Lenders could be hiding fraud losses

AUTHOR(S)
Jones, Lee
PUB. DATE
September 2009
SOURCE
Money Marketing;9/10/2009, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
44384173

 

Related Articles

  • Losses loom in fraud fallout. Jones, Lee // Money Marketing;9/10/2009, p28 

    The article presents an analysis of the effects of exposing mortgage fraud cases in relation to mortgage lenders. It notes that Chelsea Building Society and Bradford & Bingley PLC have made mortgage fraud provisions of approximately 41 million and 271 million pounds respectively. Moreover, the...

  • Number of borrowers in arrears at nationalised B&B rockets by 200%. Holt, Natalie // Mortgage Strategy;4/6/2009, p4 

    The article reports on the annual data released by nationalized lender Bradford & Bingley PLC in Great Britain, showing a significant increase for number of borrowers in arrears in 2008. It states that arrears levels resulted to increased of the residential loan impairments. It adds that as a...

  • The Marketplace offers a stepped discount at 3.99%.  // Money Marketing;4/17/2003, p25 

    Reports that the Marketplace at Bradford & Bingley is offering a two-year stepped discount mortgage with an initial rate of 3.99 percent. Funding source of the deal which is aimed at remortgagers.

  • Marketplace at B&B sets up two-year stepped loan.  // Money Marketing;10/16/2003, p24 

    Reports on the exclusive two-year stepped discount mortgage offered by the MarketPlace at Bradford & Bingley PLC in Great Britain.

  • Chelsea launches direct-only FTB range. Brennan, Henry // Mortgage Strategy (Online Edition);11/22/2012, p5 

    The article reports on the plan of Chelsea Building Society to launch a range of direct-only mortgages aimed at first-time buyers with rates starting at 2.99 per cent.

  • Keeping it in the family. Cotton, James // Money Marketing;10/26/2006, p42 

    The article evaluates the tracker mortgage from Chelsea Building Society designed for first time buyers.

  • THE mortgage MOLE.  // Mortgage Strategy;7/21/2008, p34 

    The article reports developments in the mortgage industry in Great Britain. Bradford & Bingley PLC held a shareholder meeting to discuss the financial condition of the company. It is said that the 58 societies did not see much hope for more than 18 Building Societes Association members going to...

  • B&B underlines credit quality with covered bond issue. Powley, Tanya // Money Marketing;10/4/2007, p2 

    The article focuses on the implications of Bradford & Bingley PLC's (B&B) issuance of a 500 milion pounds two-year covered bond through the ABN Amro Inc. on credit quality in Great Britain. The initiative was initiated following the fall of the firm's share price by 15% during the Northern Rock...

  • B&B profits forecast to fall. Holt, Natalie // Mortgage Strategy;7/21/2008, p7 

    The article reports on the prediction that the profits of Bradford & Bingley will sink to £115 million as it continues its search for a chief executive in Great Britain. The profit forecast was revealed at the lender's extraordinary general meeting. According to executive chairman Rod Kent,...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics