Lesley Titcomb has spoken on the challenges for the mortgage intermediary sector. She outlined the key risks FSA sees within the sector as arising from:
- standards of competence and professionalism;
- financial resources and business model sustainability;
- management oversight; and
- fraud systems and controls to prevent and detect mortgage fraud.
She noted FSA's actions to address these and warned FSA was seeing a small number of phoenix firms rising in the mortgage markets.
Sarah Wilson also spoke on “what good looks like” in a TCF context. She outlined the main points FSA would be looking at in future to assess how firms comply with their TCF obligations.