Equity release sector is ‘in deep trouble’
Durham University professor of finance and economics andDowd said: "We never seem to learn. Equitable Life hit the rocks two decades ago because it under-valued its long-term guarantees. Now the Equity Release sector is in deep trouble for the same reason.
Equity release sector is ‘in deep trouble’. The adam smith institute says that the Prudential Regulation Authority, which regulates banks and insurers, knowingly allowed equity release firms to use "unfit" valuation methods that could lead to large losses for shareholders of insurers if house prices fall. In a report,
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Last night, we issued an earnings press release and detailed. include members of the private equity business so that we can formulate a thesis around certain sectors. And then within certain.
· In Release No. 33-7944, dated January 26, 2001, the Commission proposed amendments that would require registrants to disclose, at least annually, information about the total number of securities that have been authorized for issuance under each equity compensation plan in effect as of the end of the last completed fiscal year, whether or not.
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Now the equity release sector is in deep trouble for the same reason. In both cases, the firms involved got into difficulties because they were using voodoo valuation methods that had no scientific validation.’
The equity release sector is in deep trouble with the regulator having missed opportunities to effectively manage the risks in the market, a report from the free-market Adam Smith Institute has claimed.
Equity release may be growing quickly, but it remains a small market, around 2 per cent of all mortgage lending. ". A sustained 30 per cent house price crash with no recovery would inflict much greater damage on the standard mortgage market than on the equity release sector," he said.