Mortgage and Lending Consultant - Trafford
Extra Pointers - Where do your best people come from? See above – They should have worked in either a mortgage lender, mortgage broker, compliance company or potentially banking
Mortgage professional negligence
Negligent underwriting (MCOB 11)
Secret commission/breach of fiduciary duty
Unfair relationship (s.140 CCA) CCA claims
Negligent investment advice (including SIPPs) In addition to training, project management and retained consultancy services, we receive more than 500 instructions per month to provide an opinion in respect of liability, merit and quantum across our product range. These reports include preliminary/interim reports and formal part 35 evidence. Our transnational based lending reporting covers:
Second charge lending
Regulated mortgage contracts
Regulated second charge lending
Regulated/unregulated mortgage or secured loan advice
Across our lending based verticals, we are currently seeking to hire experienced mortgage/secured loan professionals to produce high-quality reports to provide opinion on merit, liability and quantum. Successful candidates will be provided with a comprehensive training programme which covers part 35 compliance, forensic review skills and use of our audit technology which includes a database of mortgage and loan products available between 2000-2012.
This is an exciting opportunity which will allow experienced mortgage professionals to utilise their core skills in a lateral based discipline. Typically, each report will cover the following key issues:
Was the advice provided to the potential borrower suitable in consideration of their needs and circumstances?
Does the advice meet the relevant regulatory touchstone (MCOB/OFT/FISA/CCTA/FLA)
What level of service did the broker provide?
Based upon the borrowers' circumstances, did they qualify for a preferential/cheaper product
Was the broker remunerated by the lender and if so, was disclosure provided in accordance with the OFT's guidance and/or directions to be found in various Court of Appeal authorities?
Did the nature or extent of this remuneration impact the broker's advice to the borrower and if so why?
Was the underwriting decision to lend a responsible one in all circumstances?
Did the underwriting decision meet the relevant regulatory touchstone (MCOB/OFT)?
What form of affordability model was deployed and was this appropriate in the circumstances?
Were the lender's arrears management policies and forbearance techniques in accordance with all the relevant regulatory touchstones?
Were ancillary charges added by the lender fair in all circumstances?
What is the value of the borrowers' losses?
WHO ARE WE LOOKING FOR
Regulated mortgage underwriters
Second charge lending underwriters
Mortgage compliance consultants
Regulated mortgage advisers
Second charge brokers (ideally pre-financial crisis experience) The majority of our instructions are focussed on mortgages or secured loans entered into before 2009. Therefore, experience gleaned before this date would be highly beneficial.
The role would suit a candidate who left the industry after the financial crisis but would like to utilise the skills they gained in an alternative, creative and challenging way. Equally, it will suit a current mortgage professional seeking a change of role. We are looking for candidates who can hit the ground running with their extensive experience. Further, we are seeking an individual who can assist us in growing and managing the expert consultant team.
We have and can be instructed by both potential claimants as well as professional advisers or lenders.