HML. Homeloan Management Ltd

HML commercial director Kati Tyler has a new blog post on Mortgage Introducer. Read what she has to say about our latest business intelligence interest-only data below. The Financial Conduct Authority (FCA) has made clear its drive to ensure customers enjoy fair outcomes and are placed at the centre of the financial services industry. Its business plan and risk outlook for 2013/14 notes that one of its five key areas of focus is making sure that firms’ strategies are geared towards producing appropriate outcomes for consumers. This also extends to post-sale responsibility. The FCA notes that the outcome of…

Simon Crone, vice-president of Commercial - Mortgage Insurance Europe at Genworth, takes our guest blog spot to talk about high LTV lending by building societies and why he'll be keeping an eye on the Help to Buy scheme. I was fortunate to attend the Building Societies Association (BSA) Annual Conference in Harrogate recently and was thoroughly impressed not just with the seminar programme and overall discussions, but with the whole organisation and the mutual sector in general. This well-attended event clearly brought home to me the combined strength of the UK’s building societies and the collegiate approach they adopt…

HML product manager Ben Chambers recently spoke to Mortgage Strategy about why part and part needs to be higher up the agendas of lenders. Read his article in full here: The interest-only thematic review from the Financial Conduct Authority has resulted in a raft of media coverage. The common themes include the FCA stressing the point that there is no evidence of a misselling scandal, how lenders have been contacting their interest-only customers and the shortfalls that some customers face. However, I think there is another angle that needs to be looked at – how and why lenders should…

What is legal title and how can outsourcing it lighten the regulatory load for mortgage book investors? Andy Wiggans, managing director of Specialist Mortgage Services – an HML subsidiary – explains all to Mortgage Finance Gazette. The ownership of mortgage books is split into two; legal title and beneficial owner. The beneficial owner takes on the credit risk - and therefore enjoys the financial returns - while the legal title holder is responsible for dealing with the regulatory and conduct risk. To be effective in holding legal title, you require the relevant lender permissions from the Financial Conduct Authority…

PRESS RELEASE: - HML has 8.6% of all interest-only mortgages under management* - It has been on the front-foot working with its clients for 18 months to ensure borrowers have been contacted as early as possible - The FCA’s message is clear; lenders must proactively contact their interest-only customers, particularly those with loans maturing before 2020 - Consumers should not panic; lenders will contact them before April 2014 The Financial Conduct Authority (FCA) has today (May 2nd) published its findings of its thematic review on interest-only mortgages. Some of the main findings of the review show that around 90…

HML has held another successful Mortgage Market Review (MMR) roundtable in London, with attendees sharing their knowledge and experience of preparing to comply with the Financial Conduct Authority’s (FCA) April 2014 MMR deadline. David Heffron, regulatory lawyer and partner at Addleshaw Goddard, was the guest speaker at the event and talked about the options organisations in the financial services sector have going forward, as well as clarifying what the FCA expects from companies that want to obtain the relevant advice permissions. Advice was a hot topic of debate at the roundtable, with clients and industry contacts discussing who should…

The building society sector has enjoyed an impressive start to 2013, with a raft of positive financial results released over the past few weeks. Skipton Building Society (SBS) is one of the most recent to announce a profit. Profit before tax increased during 2012 to reach £36.4 million, up from the previous year’s £22.2 million. This represents a lift of 64 per cent. Net lending stood at £0.4 billion, with SBS aiming to boost lending levels further throughout 2013. SBS’s Mortgages and Savings division was the biggest driver behind its improved performance, with profits of £4.9 million. The building…

Nationwide released its January House Price Index (HPI) yesterday (January 31st), which revealed that residential property values have increased by 0.5 per cent over the month. This means the average value of a home in the UK stands at £162,245, although the price remains unchanged compared with January of last year. During 2012 as a whole, 11 of the 13 UK regions saw the typical price of houses decline, while London was the best-performing part of the country. Meanwhile, the largest value drops were recorded in Northern Ireland. However, the upward movement of house values in 2013 signifies that…

The size of the interest-only issue is now clearly understood: the CML estimates* there are about 3.75 million first-charge mortgages (including buy-to-let), worth around £470 billion, with at least some interest-only component. This represents 28% by number and 32% by value of all outstanding mortgages. What is less clear to lenders is how many borrowers have valid plans in place to repay their interest-only mortgages at the end of their term and, if they don’t have a plan, whether they can be helped to get their mortgage back on track? The only way to find out is to ask…

Martin Berry, Head of Compliance here at HML, was featured in the January issue of Mortgage Finance Gazette. The full article is as follows: During the MMR consultation process, the regulator proposed a complete ban on all non-advised sales in which there is any ‘interactive dialogue’ between a lender and borrower. The final rules published recently have stepped back slightly from this position and for new lending will allow execution-only transactions, if they take place online and if there is no discussion between staff and clients (other than a straightforward help desk function to provide assistance with using a…