The Black & White (Mortgage) Company

• The Black & White Mortgage Company was part of The Black and White Group that acted as a mortgage and loans brokerage firm.
• The company had many divisions within the sub-prime lending area with 90% of its business coming from that market sector.
• In October 2003, Black and White announced it was to use Trigold to provide its mortgage sourcing and compliance.
• In February 2008, Black and White pulled out of the regulated mortgage and insurance market due to ‘ongoing troubles in the subprime mortgage sector’.
• Black and White were regarded within the sub-prime mortgage industry as being at the top of their sector and the shock exit  came as a surprise/warning to other business’s in the sub-prime market.
• THEY WERE CLOSLY LINKED WITH MONEY PARTNERS (MPL)
• Big questions were asked over their Self Certification mortgage sales
• It was reported: The following day, the CEO resigns but denies that the company is going into administration, stating that the company will continue to be available for secured and commercial loans, lead generation and packaging deals. It was also refuted the possibility that the resignation was a result of the FSA’s ‘surprise’ visit in November 2007. After that visit, the Black and White Group had voluntarily rescinded its Part IV permissions. However, later in the day all forms of business cease trading.
• Mortgage Solutions: FSA swoops on Black and White
• On the 15 February 2008, the Black and White Group went into administration.