Regulatory Alerts2018-12-12
Added · Updated
FCA and PRA changes to mortgage reporting requirements
The FCA and PRA implement new reporting requirements for regulated mortgage lenders and home finance administrators, extending the implementation period for the Product Sales Data report (PSD001) to 18 months while maintaining 12 months for the Performance Sales Data report (PSD007) and Mortgage Lending and Administration Return (MLAR). PSD001 changes require firms to report further advances and internal product transfers, adding fields for outstanding mortgage debt and contractual reversion rates. PSD007 changes mandate that administrators submit performance data for all mortgage books regardless of FSMA authorization status, with new fields clarifying legal and beneficial ownership structures. MLAR updates rectify omissions regarding second charge loans and clarify guidance to improve data quality and supervisory oversight.