Mortgage industry yet to see benefit from regulation

Speaking during a question and answer session at the close of the Manchester Mortgage Business Expo, Michael Coogan, directo general of the Council of Mortgage Lenders said: ”It is absolutely clear cut that as of today the cost of regulation has brought no benefit. We will have to wait to see whether the consumer benefits will come through.” Coogan said there was “no doubt” the FSA’s policy on treating customers fairly, and regulation generally, was costing the mortgage industry too much. He said key facts illustrations (KFI) were too long for consumers to want to read and interviews ...