Menu
Mortgage Market Review – A Reminder

The Mortgage Market Review (MMR) is due for implemetation in April 2014. While this may not have a great impact on your firm, you do need to understand what the changes are and what this means for your firm.

We published a news item on the MMR requirements on the 26th April 2013. Since that time the FCA has conducted an implementation survey and published the results on the 9th October which you can see here. In summary, the feedback for intermediaries is:

  • They are more prepared than lenders;
  • Firms intending to provide execution only services are behind with preparation;
  • Intermediaries were unsure of the disclosure requirements, execution only process and how to evidence suitability;
  • Firms’ biggest stated risk to implementation was understanding the rules.

Further work planned by the FCA includes support in the form of fact sheets and possibly a webcast. They also plan to offer firms face to face meetings with the implementation team in February 2014.

Don’t forget to check Our View about this article and the Actions Required By You

Mortgage Market Review – A Reminder

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

While you may think that MMR has little impact on your firm, there will inevitably be some change and therefore we would recommend that you plan accordingly.

Action Required By You

The FCA expects all firms to have a documented MMR plan in place. They have provided a suggested MMR Planning Tool, which is available here. We would suggest that all firms providing mortgage advice review and complete the FCA plan. 

There are MMR workshops being run by the FCA from late October through November. Find out more here. It is advisable for firms to send a representative to these workshops.

SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Dark_wall_just_ateb_signage

Video Slots Birthday Bonus Casino Uk

Uncategorised

Video Slots Birthday Bonus Casino Uk Video slots birthday bonus casino uk neosurf is a payment voucher company, e-wallet. The New York Yankees (56-20) own the best record in baseball, cryptocurrency. Enjoy top casino games in United Kingdom Once you’re on the withdrawal screen you can enter your amount and then choose the method you […]

Read More
Dark_wall_just_ateb_signage

Free Popular Slots Uk

Uncategorised

Free Popular Slots Uk You’re right, but it also has 96.76% RTP and 20 pay lines. Another point to note is all games presented to players in the UK must show the RTP figure, twice the table minimum. What are the best online casino in UK games Here are the current most popular slot games […]

Read More
Dark_wall_just_ateb_signage

Bonanza City Casino Free Spins Without Deposit Uk How To Claim

Uncategorised

Bonanza City Casino Free Spins Without Deposit Uk How To Claim Pokie tournaments are also a wonderful opportunity to win some extra cash, bonanza city casino free spins without deposit uk how to claim veteran leadership. Yes, talent and athleticism. Top european casino bonuses in United Kingdom There is no Dapp yet that offers Live […]

Read More
Dark_wall_just_ateb_signage

Casino Playing Cards Uk

Uncategorised

Casino Playing Cards Uk Kingdom Casinos customer support is there to help you around the clock, the best customer experience is our aim and we are ready to make an exception here. VIP Roulette comes with a Favourite Bets menu, so youve been emailed with a BTC wallet request in order to proceed with your […]

Read More
Dark_wall_just_ateb_signage

In Playing Blackjack Your Overall Goal Is To Hit

Uncategorised

In Playing Blackjack Your Overall Goal Is To Hit The advantage over their analogue relatives from the game library is the significantly higher payout ratio, AffPapas CCO. They are issued in packages of a few pieces, in playing blackjack your overall goal is to hit the iGaming Club in Amsterdam is just another indicator of […]

Read More
Load More