The Financial Conduct Authority (FCA) has published findings on how mortgage lenders treat customers who have long-term mortgage arrears and provide forbearance to affected customers. The FCA had previously identified that there was a trend of increasing long-term arrears cases, whilst the number of homes being repossessed had been falling. As a result of this…

KBC Bank of Ireland has completed the sale of €1.9 billion worth of mostly non-performing buy-to-let and corporate loans that were held by its Irish unit, to Goldman Sachs. The sale, first announced in August, will have a positive impact on KBC’s profit and loss account. It will reduce KBC’s non-performing loan ratio, according to…

European credit management specialist Intrum and Italian bank Intesa Sanpaolo have finalised a strategic agreement to create market-leading servicer of non-performing loans (NPL) in Italy. The agreement creates an establishment of a market leading servicer of non-performing loans (NPLs) in Italy. The servicing platform, Intrum Italy, is majority owned by Intrum with Intesa Sanpaolo retaining…

UK Asset Resolution (UKAR) the company behind Bradford and Bingley and Northern Rock Asset Management (NRAM) has paid back £6.3 billion in government loan repayments in the last six months. UKAR announced the figures as part its interim results for the six months ended 30 September 2018. Government loan repayments of £6.3bn, including the remaining…

Debt Purchaser, Lowell, has announced its Q3 results, for the period ending 30 September 2018. James Cornell, Group CEO, said “Our performance again shows that this is a resilient business, managed effectively to deliver growth and returns. “We seek growth that increases scale and diversification, while remaining mindful of leverage. Capital is deployed rationally for attractive…

New Irish association The Receivables Management Services Association (RMSA)  has released the first review of the Irish collections industry. The Review looks at the size of the current market, the debt levels in the SME sector and the reasons why more businesses are not using the services of collections companies. The review (launched in partnership with…

Debt Buying members of the Credit Services Association (CSA), the voice of the debt collection and debt purchase sectors, are on target to contribute at least £25.5 million in voluntary ‘Fair Share’ payments in 2018* to help fund free-to-customer debt advisers This is an increase on the 2017 total of £23 million which at the…

Debt Purchaser, Lantern, has announced that it has achieved a Silver Award from Investor in Customer (IIC) having passed through their assessment process. Lantern, who were first assessed last year, gained an IIC Silver in 2017 and have maintained that standard. Danny Pickering, Director of Smile Customer Experience, who facilitated the assessment on behalf of…

Debt Purchaser Arrow Global Group has published its latest results for the past nine months (ended 30 September 2018). Commenting on the results, Lee Rochford, Group Chief Executive Officer of Arrow Global, said “I am delighted that our successful diversification of the business continues to bear fruit. Our Investment Business continues to thrive, with growing volumes…

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