Irish Mortgage Brokers: Not the subject of Primetime report.

Primetime did a special last night on a company called MoneyZone who are part of Irish Mortgage Corporation, today I got an email asking if we were the company featured on the show.

No we are not, we have similar names to our competitor IMC but we are a totally different organization and having no connections whatsoever to them.

The show was about ‘sub-prime’ lending and it focused on how IMC dealt with a customer who was an undercover reporter. Brendan Burgess (he runs the popular finance website ask about money and is the former Chairman of the Financial Regulators Consumer Panel) was commenting from the consumer and compliance perspective.

Here are some of the extracts:

IMC Male Broker: “to be honest its all about if the regulator or somebody goes into the bank they say ‘why did you approve them?’and they quite simply go ‘there’s the lodgements, there’s the money going through” the broker then went on to explain …

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How to beat a recession. Simple ways to avoid the pinch.

I think the point has been reached, certainly from public sentiment, where we are seeing more negative news than positive news, the see-saw has well and truly tilted, good news seems to be brushed over to focus instead on the financial equivalents of four car pile-ups on the M50. The money market stops to stare and the slowdown of the on-lookers causes everything else to back up.

One thing I might ask, is in that case, then why stay on the proverbial M50? In today’s post we’ll look at some simple ways to beat a recession and reduce costs so that you can keep a good standard of living and even profit from a downturn. Some is simple common sense, some might be about things you haven’t considered.

1. Stop driving: Oil prices have risen and they don’t look likely to fall any time soon, I am a cyclist myself, and sometimes people look at me funny when as Operations Manager of a financial house I turn up to meetings in a high-vis jacket, and admittedly sometimes I feel out …

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You Can’t catch me, I’m the Lynngerbread Man

Banks Chase Lynn’s Foreign Assets. I want to start by saying this is a classic example of throwing good money after bad if you ask me (not that anybody sought my opinion or anything).

Why? There are a few things to consider, and first and foremost I would say that currently banks need to concentrate on getting profitable and doing what they do best which is make money, because there is a financial sector crisis going on and initiating litigation abroad will simply dilute their efforts and get them in the papers for all the wrong reasons. what does a shareholder or mortgage holder from one of these institutions think when their bank is only mentioned in the press because they got ripped off? Its a PR nightmare, damned if you do damned if you don’t.

They are (apparently) chasing properties in Luxembourg, Portugal and Bulgaria. The latter country being a hotbed of corruption. I know a Dublin based solicitor who won a family law case awarding custody to the mother (based in Ireland) from the father (who had …

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You Can't catch me, I'm the Lynngerbread Man

Banks Chase Lynn’s Foreign Assets. I want to start by saying this is a classic example of throwing good money after bad if you ask me (not that anybody sought my opinion or anything).

Why? There are a few things to consider, and first and foremost I would say that currently banks need to concentrate on getting profitable and doing what they do best which is make money, because there is a financial sector crisis going on and initiating litigation abroad will simply dilute their efforts and get them in the papers for all the wrong reasons. what does a shareholder or mortgage holder from one of these institutions think when their bank is only mentioned in the press because they got ripped off? Its a PR nightmare, damned if you do damned if you don’t.

They are (apparently) chasing properties in Luxembourg, Portugal and Bulgaria. The latter country being a hotbed of corruption. I know a Dublin based solicitor who won a family law case awarding custody to the mother (based in Ireland) from the father (who had …

Read More