SPML/LMC anyone claimed for mis selling and unfair charges?

[enoughisenough]

Actually there's a ton of historical stuff.e.g.

 

https://www.lehmanam.com/publiccp/LAM/europe/terms_of_use.html

 

Where's this leading ITBG?

 

(PS Seems like it's still in operation

 

http://uk.linkedin.com/pub/helen-richards/9/909/271)

Edited December 7, 2009 by enoughisenough

[ryde]

FSA Register

still listed

Firm name Post code Previous/Trading As names Status Non-FSMA Registration Lehman Brothers Asset Management France

EEA Authorised

Neuberger Berman Europe Limited W1J 6ER Lehman Brothers Asset Management (Eur...Nb Europe, Neuberger Berman, Neuberger Berman Europe Authorised

Western Asset Management Company Limited EC2A 2EN Lehman Brothers Global Asset Manageme..., Shearson Lehman Global Asset Manageme..., Western Asset Global Management Ltd Authorised

 

Pages: 1

[I'm the bad guy?]

EiE, all - cheers for digging

 

just trying to find out why this Lehman Asset company is not listed anywhere as a subsidiary(co.structure), and what assets exactly Neuberger Berman bought? As they are not licensed to hold money(FSA)?

 

Looks like the Hayes thing was a hoax?!

 

 

 

 

 

ITBG?

follow the

money

Edited December 7, 2009 by I'm the bad guy?

[enoughisenough]

Seems Lehman once owned Neuberger Berman.

 

Why Lehman Should Not Sell Neuberger Berman - Deal Journal - WSJ

[I'm the bad guy?]

key question is what assets the Neuro Buggers bought?!

 

 

 

record of 6 guests?

 

 

 

ITBG?

[on*the*case]

record of 6 guests? ITBG?

Now 7 guests..

Update 8 guests...

[I'm the bad guy?]

without being juvenile,

 

is it something I said?, or the lack of deodorant?!

 

 

 

 

ITGG!

kill'em all

let Super

sort'em out

[ryde]

ITBG

YOU SAY ASSET and then ASSETS may be splitting hairs but this makes it a different company name. The original company was Lehman asset management not assets management.Thats why it appeared to be a tuck up.Its pigdin english.

[I'm the bad guy?]

corrected.

 

...strange things are afoot at the Circle K!

 

 

 

 

 

ITBG?

[ryde]

Does that mean its one of them dead herrings then?

Smash em

Pulverise em

Mince em up

Light a fire under their asses

 

sorry..... think I've finally lost it,better have a lie down for a bit.

Edited December 7, 2009 by ryde

[I'm the bad guy?]

no idea, about the Hayes episode. But some dumbass, went to alot of trouble, setting up 3 separate companies at CH. Who knows?

 

the Neuro Buggers, is REAL, as Midge61 link above. Have now traced the name change of Lehman Bros Asset Mangement(Europe) Ltd, to:

 

NEUBERGER BERMAN EUROPE LIMITED

 

WebCHeck - Select and Access Company Information

 

 

Again, what were the 'ASSET' NeuroBuggers bought?

 

 

open?

 

 

 

 

ITBG?

[littledotty27]

If Southern Pacific Funding 5 was part of Lehman Brother Holdings UK,they could of bought SPF5 assets

[I'm the bad guy?]

LD,

 

that could be the reason it went from being a limited company, to UNlimited?

 

 

side note, 3 of the directors of Lehman Bros Asset Management(Europe)Ltd[LAMBE], resigned and then became directors of RESETFAN LTD. The PARENT of SPML/PML/LMC/SPPL.

 

this makes the ENRON saga, look like a Disney fairytale. Which one?

 

Spinderella & the 40 defectors.

 

 

 

ITBG?

follow the

money

Edited December 7, 2009 by I'm the bad guy?

[ryde]

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/197424-mortgage-securitisation-paragon-pender-4.html

suggest everyone looks at this thread again as some interesting points are currently being raised,especially pertinent to ITBG who's predictions and loyalty may hopefully for all , come to some fruition.

Edited December 8, 2009 by ryde

[Crapstone]

Thanks EIE..duly noted... I wonder how the weather is in Florida?

 

As for bustthematrix.

 

'Dodgy borrowers' and 'hard done by'.

 

Speak for yourself. You have no idea what some of us have been through because of the brokers or lenders sole actions.

 

I wrote a rather long post but decided not to waste my breath or time arguing over the rights and wrongs of regular consumers and regulated lenders.

[Crapstone]

I'm keeping this short.

 

It's an insult that someone would place blame on a regular consumer and not a regulated lender. They do the maths and economics .....we usually don't ..unless you are here and then you learn a lifetimes worth.

 

I still think people are chasing rainbows when their time would be better spent elsewhere and focusing on the rafters, joists and floorboards of their dwelling.

[ryde]

crapstone

we are all still chasing rainbows, everyone is waiting for the magic bullet,the problem is if its ever found or discovered will we ever be allowed to fire it.

kegi

what about our date?

Edited December 8, 2009 by ryde

[kegi]

Got you going now Ryde... :roll:Have you read about the England football team being prescribed Viagra to see if it makes them come up with more goals .

Or the one about mountain climbers taking it and thats why they always seem to be panting a lot ,and on a more serious note why all the mountain goats have disappeared .

And its on offer today at Asda [every little bit helps]

 

kegi

[kegi]

double post

Edited December 8, 2009 by kegi
doublepost

[ryde]

kegi what are you on,think I need some.!

 

Question for all.

Can a mortgage administrator regulated and licensed by the FSA carry out duties for an unregulated,unlisenced entity namely the spv?,

Would such practice not effectively cause their license to be revoked?? if the FSA were made aware of this activity?The system of regulation is made completely pointless if this is allowed.

[on*the*case]

More to the point, mortgages are regulated in the UK by the FSA, and you are not able to offer mortgages in the UK without regulation.

Why are the SPVs not under FSA regulation ?

[I'm the bad guy?]

THE JACKALS WILL DISPOSSESS YOU, THAT'S THEIR NATURE, SHOW'EM NO MERCY. WAR COM'IN.

 

4.16 The proposed definition of managing a regulated mortgage contract is not intended to bring into the scope of regulation firms that own or hold a regulated mortgage contract but do not carry out any activity that is material to the borrower. Special purpose vehicles (SPVs) and

other vehicles used in securitisation, for example, may own or hold regulated mortgage contracts but have no role in any decision-making process which affects borrowers. Decisionmaking powers are delegated by these bodies to a mortgage third party, for example the originating mortgage lender. The Government considers that arrangements of this type should be allowed to continue, and in such arrangements, authorisation will be required by the firm that has the ability to make decisions that will materially affect the borrower, and not by the firm that owns or holds the mortgage. In cases where the firm that owns or holds the mortgage instructs or directs the firm with the ability to make decisions to act in a certain way, this firm will require authorisation.

 

http://www.hm-treasury.gov.uk/d/consult_mortgage_regulation.pdf

 

 

 

 

ITBG?

no end

in sight

Edited December 8, 2009 by I'm the bad guy?

[midge61]

Well thats rich because I have it in writing from capstone that they are not a mortgage lender or able to offer financial advice or able to vary the terms of my mortgage agreement such as offer payment breaks or any other thing as they are only administrators and if I am having difficulties I should contact an independent financial advisor............so that says they are not the decision makers but if as stated above SPML are as the originators then how are they supposed to make decisions when they are virtually non existant and all letters are dealt with by.......capstones!

[wot2do?]

Such activity clearly has the potential to cause severe harm to borrowers. These borrowers are not agents in the market where mortgages are sold on, and the costs imposed on them can be seen as a negative externality of this market. The onward sale of regulated mortgage contracts may also be seen as unfair, as it leads to a reduction in protections for some consumers, both in absolute terms and relative to other borrowers who have purchased similar financial services.

 

Exactly what JonCris and EIE have been saying all along

[enoughisenough]

Hi all

 

the FSA (Financiers Submissive Authority) have already indicated that these securitizations can't continue in their current form. What does that tell you? That the FSA was asleep on the job? Or they were equally up to there necks in it hoping nobody would notice?

 

Even the TSC said there was an impression of a cozy relationship between the regulator and the industry. An impression? A bloody impression?

 

I don't speak diplomacese. But roughly in translation the TSC were telling them to earn their keep and do some...some...erm...regulating?

 

This has GONE ON FOR FAR TOO LONG NOW.

 

So. An open appeal to the FSA.

 

This is simply no way for decent ordinary people to live. Give us some respite NOW. Ban Capstone and their hideous originators from seeking any more repossessions AT ALL until this unholy mess is sorted in a fashion consistent with consumer fairness and protection.

Edited December 8, 2009 by enoughisenough