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Shoddy loan servicing has clearly done significant damage to borrowers.
Mortgage servicing has been a problem for many banks, amid criticism over how players in the industry processed loan documents.
Britons have a tendency to have variable or short-term fixed mortgages and so the cost of servicing has come down dramatically.
The shift in Cattles' business model over the past few years, to bigger loans and remote servicing, has increased its risk profile, says Robert Self, an analyst at Credit Suisse.
Now Autobutler, an online platform for car maintenance and servicing, has raised €5.8m in a round led by Index Ventures.
Using the fixed effect model, they conclude that debt servicing has a negative impact on investment while all other variables, namely, lagged investment, growth rate of real GDP per capita, domestic saving, institutional development, and trade openness, have a positive impact.
Similar(51)
Meanwhile, service has floundered.
Service has occasional lapses.
But service has proved unreliable.
The service has 45,000 subscribers.
Normal service has just resumed.
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