The firm received a fine and has been ordered to repay all wrongfully charged sums. Membership is suspended until further notice.
NSSL splits commercial loan with building societies
Newcastle Strategic Solutions Ltd (NSSL), a subsidiary of Newcastle Building Society, has syndicated £4 million of a £13.5 million commercial loan to the Cumberland and Newbury Building Societies for distribution. This is the first syndication of its kind carried out by NSSL.
ADMA offers brokers help on DA application route
The Association for Direct Mortgage Authorisation (ADMA), has launched to offer support to intermediaries seeking direct authorisation. ADMA plans to run a series of workshops for brokers towards the end of January. ADMA met with AMI last week to discuss plans to provide a service alliance for brokers.
Lehman Brothers buys another slice of UK mortgage market
Global investment bank Lehman Brothers has bought its second non-conforming lender, Preferred Mortgages.
The bank, which bought Southern Pacific Mortgages Ltd (SPML) last year, forms part of a broader strategy to increase UK mortgage market share.
The two brands will continue to operate independently
