FCA launches MMR webcast

The FCA has developed a webcast of the material presented at last year’s Mortgage Market Review (MMR) workshops.
The webcast covers:
The FCA’s main communications about the MMR for mortgage intermediaries to date and the communications to follow
an overview of where intermediary firms should be in their preparations at this stage
a summary of the responsible lending requirements under MMR as they affect lenders
how initial disclosure should take place with examples
key points about execution-only
what the FCA expects when providing an advised sales process, including the nine factors to consider when assessing appropriateness and an advised sales scenario to apply them to
a summary of systems and controls we expect firms to have in place
Linda Woodall, director of mortgages and consumer lending, said: “Late last year we toured the country meeting firms and helping them prepare for, and better understand, the new rules that come into force with the MMR in April. Now, for those who were unable to make any of the seminars, we have created a webcast that includes many of the materials we presented. The webcast is free to access so that firms can hear directly from us and we can help ensure consistent understanding across the industry.”

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