FSA bans brokers, wants lenders to report frauds

The FSA want lenders to blow the whistle on rogue brokers as they try to stamp out mortgage fraud.

They have banned two partners of an Essex-based mortgage firm for involvement in submitting false mortgage applications to lenders.

The regulator found Amjad Malik and Tahir Mahmood, of Abbaci Associates, submitted applications on behalf of clients which contained false information relating to the clients' incomes and occupations.

More news on mortgage fraud is expected in the next few days.