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Consumer NZ calls for ban on broker commissions
The New Zealand consumer advocacy organisation has recommended that commission payments to mortgage brokers be banned.
BROKER • Thu, 27 Sep 2018
Royal commission escalated FOS complaints
A record number of disputes were reported to the FOS in FY18, partly due to heightened attention on the industry brought on by the financial services royal commission.
COMPLIANCE • Thu, 27 Sep 2018
Prospa reports 70% growth in new loans in FY18
The small business lender originated $367 million in loans in the 2018 financial year, representing an increase of 70 per cent over the previous year.
GROWTH • Thu, 20 Sep 2018
Non-major bank raises variable home loan rates
Bankwest has become the latest in a line of lenders to announce changes to its variable home loan rates out of cycle, lifting them by 15 basis points.
LENDER • Wed, 19 Sep 2018
SME lender enlists former Treasury secretary to board
Former Treasury secretary John Fraser will join the board of an SME lender that is currently seeking authorisation to label itself a bank.
LENDER • Fri, 14 Sep 2018
Ombudsman publishes SME guide to borrowing from fintechs
A new small business guide to borrowing from fintech lenders has been published by the ASBFEO.
BORROWER • Fri, 14 Sep 2018
Banker released customer account passwords to broker
Around 80 Westpac customer account passwords were reset and then shared with a mortgage broker, according to new information gathered under a Freedom of Information ...
BROKER • Tue, 11 Sep 2018
Aggregators, lenders to bear the cost of broker reforms
The cost of implementing the CIF’s broking industry reforms will largely fall on aggregators and lenders, according to a representative from a major bank.
LENDER • Tue, 11 Sep 2018
CIF considering sanctions for breaches of mortgage industry code
The Combined Industry Forum is mulling over the sanctions that could be introduced in the event that brokers are found to have breached the mortgage broking industry code ...
BORROWER • Mon, 10 Sep 2018