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Connective welcomes HEM clarification
The mortgage aggregator has welcomed ASIC’s new guidance regarding the application of expense benchmarks.
AGGREGATOR • Sun, 15 Dec 2019
Lenders to determine fate of new RG 209
The effectiveness of ASIC’s new guidance will be contingent on its interpretation by lenders, broking industry associations have said after welcoming the update.
LENDER • Wed, 11 Dec 2019
BOQ, Virgin Money slash serviceability rates
The non-major and its subsidiary have lowered their interest rate floors for home loan serviceability assessments.
GROWTH • Mon, 09 Dec 2019
White label revenue at risk, warns NAB
Revenue earned by aggregators and mortgage managers on white label home loan products may be deemed “conflicted remuneration” under the government’s best interests duty ...
LENDER • Mon, 09 Dec 2019
CIF flags risks to commissions on top-up loans
Commissions paid to brokers on top-up loans may be deemed “conflicted remuneration” under the current drafting of the best interests duty bill, the industry working group ...
BROKER • Sun, 08 Dec 2019
Lender to pull externally funded loans
A lender has announced that it will no longer offer credit products funded by third parties.
LENDER • Thu, 05 Dec 2019
Industry united in push for clawback overhaul
The broking industry has doubled down on its push to revise existing clawback arrangements, with one industry association reiterating its support for clawbacks to be ...
GROWTH • Wed, 04 Dec 2019
Advisers slam 'totally impractical' broking reform agenda
A financial advisers association has issued a strong warning against the premature implementation of best interests duty reforms, calling on the federal government to ...
LENDER • Tue, 03 Dec 2019
‘Easing’ credit conditions trigger fall in broker market share
Broker market share slipped over the past quarter, which, according to the MFAA, coincided with an easing in credit policy conditions.
BROKER • Tue, 03 Dec 2019