It has been reported that the UK’s financial services regulator, the Financial Services Authority, has banned a mortgage broker. The ban was imposed because the broker allegedly failed to prevent mortgage fraud. (more…)
According to police authority officials the level of mortgage fraud in the UK has rocketed to £700 million a year, and is an industry that is continuing to grow and attract the attention of organised criminals. This information has come from the Association of Chief Police Officers, which is calling for a specialist team to be put together to deal with the issue of mortgage related fraud. However, the £700 million figure is disputed by the Council of Mortgage Lenders. (more…)