Sub Prime lenders

emmaHarris_2

So effectively you are attacking the whole commercial entity known as the Financial Services Market

My god...yes how dare us? Is it perfect then? If so we will stop.

emmaHarris_2

and the government is the bad big brother for allowing this to happen?

No, just weak!

emmaHarris_2

to fight the cause of bringing down the subprime market.

Interesting...so we have no point at all? It's perfect the way it is? There is no imbalance in the relationships and everything are very open? The consumer is OK?

emmaHarris_2

You didnt 'thank me' for the posts...a lot of work went into that!

emmaHarris_2

So effectively you are attacking the whole commercial entity known as the Financial Services Market

Please read the 'stamp' logo to your left!

homer_j_3

You are like a lawyer in a court room, constantly making different arguments as if you are trying to convince yourself what you are saying is correct. Please stop posting on here.

I do not make commercial gain from MSE nor do I accept clients from this forum. I, like other brokers on here, are here to provide our time, knowledge and experience for free and the benefit of the users of MSE.

I was open to constructive balanced conversation, not a "I have been back to my friends and gained a response" and fired it back over the wall to MSE. I asked you in my response yesterday not to disclose anything if you were to use my comments as I did not want posts on this forum. You abused my trust by blatently referring to the forum, thread and openly disrespecting me.

You assured me that you would have balanced views? Where is the balance in any of your posts - their are attacking everything insight. You make comments regarding me, brokers and lenders without the slightest bit of evidence that there is any knowledge behind what you say.

I have a lot of knowledge about the mortgage market and the processing of mortgages and can probably argue 99% of things that you have posted on here if I had the time to do so but I do not. You seem to be adament in trying to turn the industry upside down, when there has been a LOT of money put into it for the protection of consumers.

As I said, please refrain from posting here. I have reported you for using the forum for personal gain and no longer wish to discuss this with you.

saver_sam

My husband does mortgage arrears counselling for a variety of lenders, some of them sub prime.

He has found that for the area he covers (from south east london down to the coast in sussex) that a variety of properties have been lent on by sub prime lender, some of which are of good quality and some of which are of poorer quality and perhaps in a poor area (in our opinion).

so with this being the case they may not get much of a return on it if it was repossessed and some properties we have seen when they have been taken back by the lender are in a right state, with customers ripping out stuff and making holes in the walls before they leave. this will not help then get much of a return.

emmaHarris_2

As I said, please refrain from posting here. I have reported you for using the forum for personal gain and no longer wish to discuss this with you.

There is no personal gain to have other than a debate and you changing your course in entering into this. We know that some of our comments can be upsetting for some people and we know we do not know it all.

In Iraq prior to the invasion, they did not have free speech. Is this what you wish here? All we are doing is putting across a point of argument and expect the same respect in return.

In these way consumers who do respect this site can make their own determinations accordingly.

emmaHarris_2

Hi Saver Sam,

Thank you for your post, feedback and advice.

We do appreciate the other side also. There are consumers who deliberately misguide and fraudulently enter into mortgages knowingly that they will not repay etc. This tarnishes the whole industry from both perspectives

In regard to repossessions and the lower-prime properties. These still will be profitable to the new owner in respect of the initial purchasing criteria set for purchasing whole loan mortgage portfolios. It is portfolio management not individual customer concern and your husband is picking up the pieces of this.

They can repossess, evict and then sell at a lower price/value where ever the property is. Still chase for any shortfalls on the mortgage up to 6 years later. This is portfolio management.

emmaHarris_2

You are like a lawyer in a court room, constantly making different arguments as if you are trying to convince yourself what you are saying is correct.

Please tell us which is not then?

Our concerns are set in stone...for other people, we have nothing to gain.