Lenders See Harmony on Need to Standardize

A report on mortgage credit markets by the European Commission shows that consumers and the industry don't agree on much, but they do agree that standardization in some key areas involving property-related data, taxes, and oversight are needed, the United Kingdom's Council of Mortgage Lenders has reported.While some consensus has been reached on these points, other of the 48 recommendations that the report makes in the areas of consumer confidence, legal issues, collateral issues, distribution issues, and finance are solely consumer or solely industry recommendations, the CML said. "This suggests that the best way to proceed remains elusive on some aspects," the council reported.