Preferred and SPML loan operations to merge

But the two lenders are to remain independent of each other and retain the underwriting philosophies of the different brands. Lehman Brothers says the new group structure will strengthen both brands while enhancing efficiency and flexibility in the businesses putting both Preferred and SPML in the position of being able to expand their businesses in the UK non-conforming mortgage market. Preferred will focus on partnership and speciality lending, while SPML will focus its business on own label packager lending in first and second charge loans in all non-conforming sectors. Lehman Brot...