Forgive my ignorance but I thought these were the rules. Something is better than nothing. Still no word on the disgusting Capstone Mortgage Services though.
Dear reader, have a look at this…unbelievable, sanctimonious and self indulgent in the extreme post recieved [Read More]
The Filth Capstone Acenden have a lot to explain. They have a lot to account for. And they have so, so much more to [Read More]
2012 has been a difficult year for all of us involved here – there’s no doubt about that. It’s been [Read More]
If you keep pressing long enough the truth will come out. And it’s important to remember that. WHY?..Because it [Read More]
Pity Margaret ‘PwC” Cole, didn’t get a mention here. She’s now off to the ‘Dark [Read More]
1. To name and shame Capstone Mortgage Services as a disgraceful Third Party Administrator which specialises in ripping people off before dispossessing them.
2. To highlight the appalling practices of this firm which are systemic and unlawful and which cause huge consumer detriment.
3. To highlight the fact of insolvent trading by the Lehman Bros entities including SPML, SPPL, and PML; to further highlight their failure to comply with their legal responsibilities to submit accounts or appoint directors.
4. To challenge the locus standi of Capstone Mortgage Services to issue claim on behalf of the originating lender.
5. To campaign and lobby the regulators such as the Financial Services Authority to halt these abuses NOW, by applying the law and regulations as they exist.
6. To assist anyone in the process of fighting unlawful, falsely premised and vexatious repossession claims to mount a viable defence.
7. To campaign for fairer hearings before the courts in repossession claims than the anecdotal evidence suggests is currently the case.
8. To encourage in the media wider reporting of the fall-out for thousands of British families and households of the Lehman Bros bankruptcy.
9. To alert all concerned that the cynical makeover from Capstone to Acenden is nothing more than a PR rebranding exercise and has if anything resulted in more of the same from this appalling 'mortgage servicer.'
This is not just our manifesto. It is yours too. Feel free to post up suggestions and they will be considered for inclusion.
FSA Principle 6
Securitisation and Fair Treatment – As stated by the FSA
In terms of the issues raised around securitisation, we expect a firm to adopt the same approach to forbearance for borrowers with mortgages that have been securitised as for borrowers whose mortgages remain on the firm’s books. Securitisation covenants should not constrict a firm’s ability to treat its customers fairly by exercising appropriate forbearance strategies.
Margaret Cole, director of enforcement and financial crime at the FSA said:
"FSA rules ensure that financial services firms operate safely, protecting both their customers and the industry itself. Anyone found flouting those rules will face stiff penalties."
Really? Or did you mean THIS:
When I use a word,' said.... in rather a scornful tone, 'it means just what I choose it to mean — neither more nor less."
FOS Complaints STATS Courtesy of Dingle.
SPML 56% found in favour of complainant
1 July 2009 – 31 December 2009 – new cases
1 July 2009 – 31 December 2009 – resolved cases
Kensington 50% resolved in favour of complainant
SPML 40% resolved in favour of complainant
1 January 2009 – 30 June 2009 – new cases
Preferred Mortgages 31
1 January 2009 – 30 June 2009 – resolved cases
GMAC 74% resolved in favour of complainant
Kensington 37% resolved in favour of complainant
Preferred 56% resolved in favour of complainant
SPML 48% resolved in favour of complainant
SPPL’s VAT (Yeah…I’m the Taxman…)
Direct from SPPL's Tariffs and Charges 2010
"All fees and charges are inclusive of VAT where applicable."
Now, where did we put those SPPL Accounts...?
s.27 of the Land Registry Act 2002
From the many prospectuses...
"Neither the Issuer nor the Trustee currently intend to effect any registration at The Land Registry of England and Wales, the Registers of Northern Ireland or any registration or recording in the Registers of Scotland to protect the sale of the Loans"
Why not? It is a legal requirement that they do so and any failure amounts to a criminal offence.
- Accounts and Auditing
- Capstone Mortgage Services Administrator in Chief For Repossessions
- Case Law and Legal
- Civil "Justus": The County Courts and Repossessions
- Community Law & Consumer Protections
- Financial Services Authority
- From Brokers to broken…
- Insolvent Trading and Breaches of the Companies Act 2006
- Lehman Bros
- Lehmans' Four Horses of the Repossession Apocalypse
- Media and Reporting
- Mortgage Repossession
- Regulation and Consumer Protection
- Securitisation – The Dark Art of Stealing Your Home. (A Lehmans Bros/Capstone Production in Association with the Financial Services Authority)
- Site Wish List
- Special Purposes Vehicles
- The Social Consequences of Mortgage Repossession
- The Treasury Select Committee
- Video Links
- Watching the regulator
- Your Data, your rights…
- Your Story: Abused and Unlawfully Dispossessed
- March 2013
- November 2012
- October 2012
- September 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
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- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010