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UK Financial Services Authority Statement: Redstone Mortgages Limited fined £630,000 for unfair treatment of some customers in arrears

( July 15, 2010, 10:40 GMT | Official Statement) -- MLex Summary: The British financial regulator said it fined Redstone Mortgages 630,000 pounds -- reduced by 30 percent from 900,000 pounds because the lenders cooperated in the case - -for mistreating borrowers who fell behind on their mortgage payments. Redstone also will compensate customers by as much as 500,000 pounds. The regulator called it the third enforcement action since a review of handling of arrears in the mortgage industry.The Financial Services Authority (FSA) has today fined Redstone Mortgages Limited (Redstone) £630,000 for poor treatment of some customers facing mortgage arrears....

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