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Coogan: We never “defended the indefensible”
The outgoing director general of the Council of Mortgage Lenders (CML)said his refusal to defend errant mortgage lenders, caught out during the downturn, was one of his proudest moments.
Reflecting on his time as head of mortgage lender trade body, the CML, Michael Coogan, said he was proud it never fell into the trap of “defending the indefensible” in terms of individual members’ past mistakes.
In the latest CML News and Views newsletter, Coogan, added: “We have also been blessed, most of the time, with strong favourable perceptions of the CML as a whole, if not always every individual member of it.”
Coogan, who leaves the organisation at the end of the week, said the journey has not always been straightforward, adding; “Indeed, it has been a roller-coaster at times.”
“Nevertheless, through thick and thin, I am proud that the mortgage lending industry has continued to support homeowners, as well as to develop a thriving private rental sector and to underpin the funding of affordable housing for social tenants,” he said.
Paul Smee, ex-director general of AIFA and lately chief executive of The Payments Council, will take on the director general role next week on 1 August.
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