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Loan Modification
: Mortgage Lender Implode-o-MeterExec on Northern Rock 'bad bank' quits on FSA probe
By Implode-Explode Heavy Industries
"Northern Rock Asset Management said Wednesday that its Chief Financial Officer David Jones has resigned with immediate affect over an ongoing investigation by the U.K.'s Financial Services Authority.
The announcement comes around a week after two former executives of the nationalized bank were fined a total of 644,000 pounds ($991,000) by the regulator for misleading investors and analysts over the state of the bank's mortgage arrears.
Full post as published by Mortgage Lender Implode-o-Meter on April 21, 2010 (boomark / email).
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