FSA fights back after lender criticism of MMR

It called the assumptions "premature", adding: "Frankly, a number of assumptions about the final MMR policy requirements have been made in making that assessment." Speaking at the Building Societies Association (BSA) annual mortgage seminar, Lynda Blackwell, mortgage policy manager at the FSA, did not name the CML, but said the biggest problem was the assumption that if a mortgage is affected by any of our changes it is not granted at all. The proposals would only affect the loan-to-value of the mortgage offered or push up the repayment, not lead to a mortgage refusal, said Blackwell....