Skip to main content

Seemingly all are agreed: Mortgages are a bad business to be in right now, what with the rising rates and inflation and generally pervasive sense of economic anxiety ringing the world. And the Bank of England has made clear that it doesn’t look to kindly on the growing concentration of the U.K. mortgage market in the hands of big banks. Which means, on both counts, Barclays is right on cue.

The British bank said it would acquire a roughly $2.4 billion loan portfolio and a servicing business for Kensington [Mortgage Company]’s target clientele of self-employed and other people with unconventional credit profiles…. Kensington’s business model has been to securitize its mortgages and issue bonds to investors, while Barclays said it intends to keep the loans on its books.

Nope, that doesn’t sound at all problematic or like history repeating itself at all.

Barclays Spends $2.8 Billion to Beef Up Mortgage Business [WSJ]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.

Related

Photo: Getty Images.

Credit Suisse Can Lose Nine Figures In All Sorts Of Ways

The financial crisis is still very much ongoing in Zürich.

Getty Images

Barclays Business Model Of Fraudulent Misrepresentation, Serious Deceit Legal Under British Law

You can say and do whatever you want to a dolly-bird tart in old Blighty, as long as she can’t raise the money you need.

dumpster fire ornament

Worst Year In At Least A Century No Reason Not To Go Public

The SPAC-and-IPO party on Wall Street will have to stand in for the traditional holiday festivities this year.

WellsFargo.GeorgeBailey

Investigators Now Wondering If There Are Regulations Wells Fargo Hasn't Broken

If you're a federal regulator NOT looking into Wells Fargo, raise your hand...and then go investigate Wells Fargo.

By mattbuck [CC BY-SA 2.0, CC BY-SA 3.0 or CC BY-SA 4.0], via Wikimedia Commons

Casa De Corbat Gusta Mucho México; Mortgages, Immigration Ban Less So

Citigroup is decidedly not going to be triggered by Trump.

No, wait! Put it back!

SFO Adds Some Existential Drama To Barclays Qatar Trial

Specifically, whether Barclays will have to find something to do other than being a bank. (Probably not.)