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Big lenders and life assurers should know better (Independe

 
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Tiberias
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Joined: 28 Apr 2006
Posts: 879

PostPosted: Mon Aug 18, 2008 3:44 am    Post subject: Big lenders and life assurers should know better (Independe Reply with quote

First National Bank (FNB) has had a bit of a nightmare since the banking ombudsman, Clive Pillay, exposed that the bank was revisiting mortgage bonds granted in principle for properties in developments that have yet to be completed. This creates enormous risks for buyers, who stand to lose their deposits, and also for developers, who could find themselves without new buyers in the current ...

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