http://www.lendingcentral.com/2009/11/05/mark-bouris-warns-of-hefty-rate-increases/ The first word in mortgage news Mon, 15 Mar 2010 13:41:18 +0000 http://wordpress.org/?v=2.5.1 http://www.lendingcentral.com/2009/11/05/mark-bouris-warns-of-hefty-rate-increases/#comment-22786 Daniel Thorpe Fri, 13 Nov 2009 04:52:41 +0000 http://www.lendingcentral.com/?p=3234#comment-22786 Oh my God not another Wizard of an idea. As Mark Bouris says he pushed to get the comparison rate enshrined in legislation (despite other countries dumping it because IT IS ALWAYS WRONG) and now another useless piece of information. It presumes that lenders could forsee next years finding price, the sdame lenders who DID NOT see the GFC tsunami coming until it had swept the financial system out to sea. What will they use this time - crystal balls, tarot cards, numerology, star signs, best guess. Better for Mark Bouris if he admitted that the CRS he championed is totally flawed. Here's a challenge Mark. Produce a comparison rate that is accurate. That means no disclaimers on the bottom of the form, works every time for all loan amounts and terms and is provably accurate, NOT always inaccurate as with the current offerings. The only people the current one benefits are the crooks and spivs who gain unwarranted credibility by holding ap a "government approved comparison rate" to suck customers in, knowing full well that whatever rate they use is no more accurate or real than the the rest of the market. In other words Mark, fix or call for the abolition of the one you stuffed in the first place before you try and inflict another dubious formula on an unsuspecting public. Oh my God not another Wizard of an idea. As Mark Bouris says he pushed to get the comparison rate enshrined in legislation (despite other countries dumping it because IT IS ALWAYS WRONG) and now another useless piece of information. It presumes that lenders could forsee next years finding price, the sdame lenders who DID NOT see the GFC tsunami coming until it had swept the financial system out to sea. What will they use this time - crystal balls, tarot cards, numerology, star signs, best guess.
Better for Mark Bouris if he admitted that the CRS he championed is totally flawed.
Here’s a challenge Mark.
Produce a comparison rate that is accurate. That means no disclaimers on the bottom of the form, works every time for all loan amounts and terms and is provably accurate, NOT always inaccurate as with the current offerings. The only people the current one benefits are the crooks and spivs who gain unwarranted credibility by holding ap a “government approved comparison rate” to suck customers in, knowing full well that whatever rate they use is no more accurate or real than the the rest of the market.
In other words Mark, fix or call for the abolition of the one you stuffed in the first place before you try and inflict another dubious formula on an unsuspecting public.

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