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Bank ceases lending to high DTI borrowers
A lender has further reduced its risk appetite amid the ongoing COVID-19 crisis, announcing it will no longer process home loan applications from borrowers with high ...
BORROWER • Mon, 10 Aug 2020
Brokers call for permanent adoption of digital mortgage process
Tech-driven changes to the mortgage application process in response to the COVID-19 crisis should be made permanent, according to over 90 per cent of brokers surveyed by ...
BROKER • Thu, 06 Aug 2020
Over 80% of refinancers switching lenders
Less than one in five refinancers is switching products with their existing lender, according to new research from Aussie.
LENDER • Wed, 05 Aug 2020
Big banks bolster share of dwindling commercial volumes
The COVID crisis has triggered a sharp fall in business and commercial lending volumes and has shifted the competitive landscape in favour of the big four banks, ...
LENDER • Tue, 04 Aug 2020
Lender introduces ‘reaccreditation’ requirement
A lender has announced that it will “deactivate” the accreditation of brokers who do not successfully complete a product education evaluation.
LENDER • Sun, 02 Aug 2020
Processing lags cost refinancers millions in savings
Owner-occupier refinancers have collectively lost over $10 million in savings due to delays in processing discharge requests, new research has revealed.
LENDER • Thu, 30 Jul 2020
Major bank introduces new serviceability probe
Brokers will now be required to document their clients’ post-retirement mortgage repayment plans, with a big four bank updating its credit policy as part of its ...
LENDER • Sun, 26 Jul 2020
Treasurer details severity of COVID headwinds
The budget deficit has surged to unprecedented levels, and the unemployment rate is set to hit a record high, according to an economic and fiscal update from Treasurer ...
COMPLIANCE • Thu, 23 Jul 2020
FBAA head urges lenders to resolve processing lags
Turnaround times, VOI processes and form standardisation have been flagged by FBAA managing director Peter White as areas for reform in the lending space.
LENDER • Tue, 21 Jul 2020