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2009-10-19 — bloomberg.com
The U.K. financial regulator called for a ban on self-certification home loans as part of a crackdown on risky credit in the country’s 1.2 trillion-pound ($1.95 trillion) mortgage market.
The Financial Services Authority also called for mandatory affordability tests for all mortgages, making banks and other lenders responsible for assessing consumers’ ability to pay, according to a statement today.
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