Crown Mortgage Management has echoed the FSA’s defence of specialist lenders and argues the return of non-confirming loans to the market is essential for a full market recovery.
Following the demise of the vast majority of sub-prime lenders, Crown says the responsibility may rest with prime lenders establishing sub-prime operations with many choosing to opt to outsource the management to a specialist servicer.
Steve Haggerty , CEO, Crown said: “Specialist lenders are essential for a full market recovery as without them hundreds of thousands of people would be prevented from future home ownership. The key is the appropriateness of the product
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