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RBA slashes cash rate to new low
The cash rate has hit a new record low, with the Reserve Bank easing monetary policy for the fourth time in less than a year amid a sharp dip in market sentiment.
GROWTH • Tue, 03 Mar 2020
Broker market share bounces back
The share of new loans originated by the broker channel has increased for the first time in six months, new MFAA data has revealed.
BROKER • Thu, 27 Feb 2020
Lender CEO sees bright side of BID
The new best interests duty would provide lenders with a greater deal of “comfort” when dealing with the third-party channel and would serve as an “opportunity” for ...
LENDER • Wed, 26 Feb 2020
ASIC urged to ‘dial back’ BID guidance
The regulator has “overreached” in its interpretation of the best interests duty and should “dial back” its guidance, according to the director of a risk management ...
COMPLIANCE • Tue, 25 Feb 2020
Non-mortgage package products subject to BID: ASIC
Brokers will be required to meet their best interests duty obligations when assessing the suitability of other credit products linked to a home loan, according to the ...
COMPLIANCE • Tue, 25 Feb 2020
Heritage profits down despite loan, deposit growth
The customer-owned bank has recorded a 5 per cent decline in its profit after tax despite growth in both loan approvals and deposits.
GROWTH • Mon, 24 Feb 2020
YBR signs $120m RMBS deal
The financial services group has agreed terms with an Australian bank for a $120-million residential mortgage-backed warehouse facility.
LENDER • Mon, 24 Feb 2020
ASIC outlines record-keeping obligations for BID compliance
The corporate regulator has outlined the documentation it expects mortgage brokers to store as means to demonstrate their compliance with the best interests duty.
COMPLIANCE • Sun, 23 Feb 2020
AFG profits up despite slip in volumes
The mortgage aggregator has reported a 10 per cent earnings increase, despite a $400-million decline in settlements originated by its broker network.
AGGREGATOR • Sun, 23 Feb 2020