Danish Bank Executives Meet to Defuse $500 Billion Mortgage Market Feud
Updated
Updated · Bloomberg · Jul 20
Danish Bank Executives Meet to Defuse $500 Billion Mortgage Market Feud
1 articles · Updated · Bloomberg · Jul 20
Summary
May 1 talks at Finance Denmark brought the country’s top banking executives together after a fight over Denmark’s $500 billion mortgage market spilled into public view.
Lars Gert Lose, who heads the industry group, hastily convened the meeting to contain the dispute before it further damaged relations across the sector.
Michael Rasmussen of Nykredit — Denmark’s largest mortgage lender and Finance Denmark chairman — had pushed in prior weeks for tighter rules on priority loans.
That product has been growing quickly as rival lenders use it to win customers from traditional mortgage providers, sharpening a broader clash over how Denmark’s low-cost home-loan system should be protected.