We are consulting on proposals to update the notes for completion of the MLAR and to make a minor change to our second charge mortgage reporting form (MLA-D1).
As a regulator we are interested in how the firms and markets we regulate behave. Therefore we introduced the MLAR and associated guidance to collect information from mortgage lending and/or mortgage administration firms to allow us to supervise the market effectively and fulfil our objectives as an organisation.
These proposals set out changes to the guidance for firms completing the MLAR as well as a minor change to align the reporting rows included in the second charge mortgage lending form MLA-D1 with the form MLA-D. These clarifications will assist firms in their completion of the MLAR by removing existing anomalies between the PRA and FCA version of the guidance notes and between first charge and second charge regulatory reporting forms.
The proposed changes do not introduce any significant changes to the data that is required to be reported to the FCA in the MLAR.
Who this applies to
This paper will be of interest to those firms that are authorised to undertake mortgage lending and/or mortgage administration and those firms that are required to report second charge lending via form MLA-D1.
This consultation has now closed. We will consider your feedback and publish our rules in a Policy Statement in Q2 2017.