Every Banking Institution has a team or three of lawyers.
However one important factor has emerged: most of the Low Doc and No Doc legal work for over 30 lenders that we have seen, is carried out predominantly by one particular law firm.
One of the partners is on the board of a consumer advice panel to government agency and an EDR.
This law firm picks up the lion's share of the work preparing mortgage contracts and posting them out to bank customers. The same law firm picks up the lion's share of the work for serving writs on defaulting loans and marching consumers off to court.
Just an observation of fact chaps! I am sure it's all above board.
