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Just days after it was announced Richard Farr, its director, was disappearing and the reigns were handed back to Chris Cummings, it issues this: "Following Ami's discussions with the regulator, the FSA has confirmed it does not expect firms to recommend lenders or particular products they cannot access."

Personally, I hope any self-respecting independent mortgage adviser tears up this announcement from Ami.

It is bad for consumers and bad for the reputation of the industry. So it is hard work tracking down the cheapest deals. Tough. That is why the public goes to advisers - because you should be offering the specialist service of tracking down the best deals.

Imagine if the National Union of Journalists wrote to its members. "Financial journalists are no longer required to write about rate changes that have not been sent to them in a press release." Banks and building societies would be loving it.

Ami in its briefing note said "the differential between branch and intermediary offers has narrowed considerably - in some cases favouring brokers." So if only some cases favour advisers, what is the point of going to one?

Surely advisers are facing enough competition from online comparison websites. Does this just not play right in to the hands of the likes of Moneysupermarket? They now have the upper hand in the mortgage finding service.

If advisers are not offering something extra, then what is your role? I appreciate, and have raised it here often enough, that lenders are making life extremely difficult for advisers and it truly annoys me. But that is no reason why advisers should just capitulate.

There is a reasonable expectation from customers to believe an adviser will track the best deal available for them - but just the best deal they can be bothered to find? What exactly are you going to tell clients?

"I promise to get you the best deal available - but only from lenders that choose to send me the relevant information or those that actually want my business."

The fact the FSA has allowed this makes me fear again that those at the top rungs of power have little understanding of how the mortgage market works. Take Alistair Darling's bold pronouncements last week about how expensive arrangement fees had become.

The government is in no position to dictate market forces. As one of my colleagues succinctly put it: Are they going to tell Marks & Spencer how much they are allowed to charge for knickers? While fees have increased, most consumers seem to understand sometimes paying a high fee can get you a better rate - particularly if you have a large mortgage. Equally, taking out a higher rate mortgage can suit you if you want a smaller loan.

The trouble is often it is only advisers that can see the wood for the trees. Consumers rely on their specialist knowledge and access to the relevant information to get them the best deal. Sadly, the FSA has given advisers carte-blanche to do half a job. I just hope advisers have got enough professional pride to ignore it.

If at first you don't suceed

Housing economists do not know anything: part 25. HBoS's trading statement last week revealed its third attempt at predicting house price growth for the year.

Previously it had estimated price falls would be low single digit. Its latest revision said: 9 per cent falls. This is ignoring the fact previous wild estimations had seen prices simply stagnate for a few years - despite the glaring evidence that current lending levels were unsustainable.

I wonder if housing economists are part of the same trade union as weather forecasters?

Love it when you call

An email reaches me from Northern Rock's marketing department.

"Time is money. By the time you read this we could have answered your call. Twice. Last week, 99 per cent of intermediary telephone calls were answered within three seconds."

Presumably the next line is: normal service will be resumed shortly.