looks like you have started 2 threads -- just bumped the other then found this thread !!!

this guy needs a bit of help http://www.consumeractiongroup.co.uk/forum/showthread.php?357976-swift-advances-and-roslyn-king-repossession-papers&highlight=swift+advances

bumping

http://news.rkllp.co.uk/?p=467 may we quote from the website " FSA REGULATION OF ONWARD SALES OF MORTGAGE PORTFOLIOS More Protection for Borrowers HM Treasury announced on 26 January 2011 that it intends to bring the onward sale of residential mortgage portfolios within the scope of regulation by the Financial Services Authority (“FSA”). The proposals follow a lengthy consultation initiated in November 2009. The Government identified a failure to protect borrowers whose mortgages are sold on to unregulated entities by their lenders. Such borrowers lack the protections afforded by the FSA regime such as the “Treat Customers Fairly” (“TCF”) principles and a borrower’s right of recourse to the Financial Ombudsman Service. According to evidence provided by the FSA, by the second quarter of 2009, unregulated firms had purchased 16,500 regulated mortgage contracts to the tune of about £1.7 billion. The figure has since increased and the signs are that this figure will continue to rise over the next few years as investors identify opportunities to exploit the difficulties currently faced by the traditional originators of residential mortgages. The Government is proposing to achieve this regulation by expanding the definition of the regulated activity of “administering” a regulated mortgage contract. This will mean that mortgages that have been sold on are caught by the definition and the regulatory protections ordinarily afforded to borrowers will continue to apply post-sale. HM Treasury intends to publish statutory instruments “later in 2011” but expects the FSA to commence work immediately to implement these proposals. The Current Problem Residential mortgage lenders in the UK must be authorised by the FSA and comply with regulations so long as they continue to make such loans. The problems arise when such lenders decide to sell on their mortgage books, ordinarily in order to minimise losses or raise funds or to leave the UK market. Many of the purchasers of these books are not regulated by the FSA (i.e. hedge funds and private equity firms) and the new owner’s plans may not necessarily place great emphasis on the borrowers’ interests. The FSA’s fear is that they may seek to maximise margins by raising rates and charges and initiating repossessions to liquidate assets. Notwithstanding the FSA’s fears, purchasers of mortgage books instruct Third Party Administrators (“TPAs”) to manage the day-to-day mortgage contracts on their behalf. These TPAs are already regulated by the FSA (as their role falls within the current definition of ‘administering’ mortgages) and they are therefore already required to adhere to TCF principles. However, technically an unregulated purchaser of a mortgage book does not itself have to comply with TCF principles and comply with the FSA’s regulatory regime; it could therefore make decisions, which the original lender could not have made, which have an adverse effect upon the borrower. Securitisation As part of its consultation, the Government considered the impact which any change in the regime would have on residential mortgage securitisation. Despite the lack of securitisation transactions closing in recent years, the Government estimates that there is currently approximately £400 billion in outstanding UK residential mortgage securitisation. The FSA’s proposals to amend the definition of “administering” a regulated mortgage contract are intended to avoid the requirement for the special purpose vehicle within a securitisation structure having to become FSA regulated. Second Charge Regulation In addition to the proposal to regulate the onward sale of mortgage portfolios, HM Treasury has, as expected, also announced a proposal to transfer the regulation of new and existing second charge residential mortgages to the same regime as first charge mortgages. The Government expects that the proposed Consumer Protection and Markets Authority will take on responsibility for second charge mortgages on the same date that it takes on the FSA’s existing responsibility for first charge mortgage lending. The current proposal is that this will take place on 1 December 2012. Practical Impact? It is difficult to see the real practical effect of the Government’s proposals to regulate the onward sale of mortgage portfolios. Although, theoretically, purchasers of mortgage books could ignore TCF principles and fail to adhere to the FSA’s regulatory regime in making decisions affecting borrowers, in practice TPAs are appointed in order to administer the purchased book; the TPA, of course, is bound to comply with existing regulations. For further information, please contact James Walton or the Partner with whom you usually deal. "

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anybody want to check out what info there are on these links http://www6.paragon-group.co.uk/pgroup.nsf/securitisationMainFS here is a goodie --- it takes forever to load (when it does download suggest you save a copy amazing ino in there ) http://www6.paragon-group.co.uk/pgroup.nsf/nasec/5BDD369D99C49DBC802579270037E583/$FILE/02%20Mortgage%20Sale%20Agreement.pdf

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scotcall use self employed local people -- history says -- they do call around -(forget which act of parliament you have to educate them about) and leave a card with their phone number - whatever you do don't enter it into any who calls me type website because that will mean the next person who googles the phone number -- will rumble what the game is -- and we don't want to spoil things cough cough

anybody found any "well hidden SPV" 111 The only question then is whether the SPV should have been joined in the proceedings as an additional claimant. In my judgment, the answer to that question is plainly: No. On the assumption that the consideration for the transfer of the Legal Charge has been paid in full, Paragon has since retained its legal ownership of the Legal Charge as trustee for the SPV (see Whiteley v. Delaney [1914] AC 132 at 141 per Viscount Haldane LC). But it does not follow that in that situation the SPV, as the owner of the Legal Charge in equity, is a necessary party to the claim; and on the facts of the instant case joinder of the SPV is wholly unnecessary. There is, after all, no issue between the SPV and Paragon as to the exercise of the mortgagee's rights under the Legal Charge: indeed the SPV has, by virtue of the administration agreements, expressly authorised Paragon to exercise such rights on its behalf.

it would be interesting to know if this lot Mackenzie Hall has improved its practises?

thought you would work it out places in hereford and worcestershire that have nicked "welsh names"

ok where's LLANCILLO LLANCLOUDY LLANDINABO LLANGARRON LLANGROVE LLANGUA MON LLANGARRON LLANROTHAL LLANVEYNOE CLUE not wales !!

Contact Us

a friend of mine accidentally dialled a freephone number from his modem took him half an hour to realise his mistake :lol::lol::lol:

this is ron morrell Ron Morrell Head of Quality and Compliance Ron has been involved at a senior management level in teams responsible for secured and unsecured collection and recoveries. He has had over 25 years of working in regulated Financial Services and has considerable experience in developing and improving Quality Management Systems. His focus is on continually improving our business processes therefore ensuring a first class quality of service to our Clients and that we operate within all Statutory and Code of Practice Guidelines and to the highest ethical standards.

I am shocked that someone with such vast experience in the field of regulated financial services could allow a fledling company to committ such a basic error. .

i would go down the CCa route what year was the "alleged" agreement ? the chairman of sainsburies said on a recent radio programme that he takes pride in answering each complaint personally ... take him at his word !!