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ACCC report highlights need to preserve broker model: AFG
It would be “unfathomable” for policymakers to consider regulatory change that would undermine the competitive utility of the broker channel in light of “damning ...
BROKER • Wed, 12 Dec 2018
Major bank announces credit policy changes
A big four bank has updated its credit policy to require brokers to provide supporting commentary, which explains living expenses imputations in a home loan application
LENDER • Mon, 10 Dec 2018
Court approves acquisition of SME lender
The $630 million takeover of a business lender is “legally effective” following the Supreme Court approval of the terms of the acquisition.
LENDER • Sun, 09 Dec 2018
ASIC whistle-blower issues warning to brokers
The co-founder and director of a nationally recognised brokerage has issued a warning to his peers after being a witness in an ASIC investigation into misconduct.
BROKER • Thu, 06 Dec 2018
Bank hikes rates, reintroduces home loan fee
A regional bank has increased interest rates on its investor loan products and has introduced an establishment fee on its owner-occupied home loans.
LENDER • Thu, 06 Dec 2018
Bank appoints new broker head
A non-major bank has announced the appointment of a new head of broker distribution.
BROKER • Sun, 02 Dec 2018
ANZ CEO weighs in on the HEM debate
The use of the Household Expenditure Measure to assess serviceability was initially less common for broker-originated loans, but such is no longer the case, ANZ chief ...
LENDER • Sun, 02 Dec 2018
Uncertainty over broker agency ‘surprising’: Bendigo chairman
The chairman of Bendigo and Adelaide Bank has said he was “surprised” that the roles and responsibilities of mortgage brokers have been called into question by the ...
BROKER • Thu, 29 Nov 2018
ANZ CEO laments complex ‘408-step’ mortgage process
ANZ CEO Shayne Elliott has conceded that the bank’s complex mortgage application process has contributed to much of its “processing and administrative errors”.
LENDER • Wed, 28 Nov 2018