FSA praises AMI for helping mortgage intermediaries

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FSA praises AMI for helping mortgage intermediaries

Fri 14th Nov 2008

AMI's work helping mortgage intermediaries adapt to the current economic environment has been praised by the Financial Services Authority (FSA).

Speaking at the Mortgage Business Expo, Lesley Titcomb of the FSA said the credit crunch had hit the mortgage industry the hardest and described current financial crisis as a "great challenge".

Andrew Strange, director of policy at AMI, noted that Ms Titcomb singled out the company's paper The Credit Crunch One Year On for special praise.

"Lesley also made reference to the gathering of better evidence to support the reasons for advice and doing more to take customers' existing outgoings into account," he commented.

Mr Strange also welcomed the FSA's stance on phoenix firms which he described as "strong".

AMI is a non-commercial, not-for-profit trade body that exists to help the professional mortgage intermediary by lobbying the treasury, the FSA, government and European Union policymakers.

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