ISCOVER
Macquarie?s reverse mortgages off the market indefinitely
Friday, 9 May 2008•1 minute read
Ongoing deterioration in global credit markets and the continued increase in the cost of funds have forced Macquarie Mortgages to suspend its reverse mortgage product range – with no definitive plans to introduce the products in the future.
“No one can predict when global mortgage credit markets will stabilise,” a Macquarie spokesperson told Mortgage Business yesterday afternoon.
The announcement came just two months after the bank announced it would significantly reduce its origination of wholesale and retail residential mortgages.
Moving forward the spokesperson said the bank would focus on servicing its existing borrowers and honouring contractual commitments with existing partners.
Published: 09-05-08
MORE FROM THE ADVISER
New broker head for Heritage Bank amid leadership shuffle
by Sarah Simpkins • 26 May 2022Heritage Bank’s NSW and ACT state manager Paul Moses is set to become its new head of broker experience, replacing...
Bluestone boosts non-prime support for brokers
by Kate Aubrey • 25 May 2022As part of Bluestone’s senior underwriters, the “broker credit coaches” will have new responsibilities added to...
Prime welcomes new BDMs amid SME lending boom
by Annie Kane • 25 May 2022Prime Capital has welcomed former MyState Bank BDM Ron Galvan and former Archer Wealth BDM John Eid to its team of...
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more
Most Talked About
Major bank CEO backs fees-for-service model
by Charbel KadibShadow treasurer says government has ‘got it wrong’ on trail
by Annie KaneOpen letter to CBA CEO Matt Comyn
by ReporterTreasury: Trail to be banned next year
by Annie KaneRemove trail, says final Productivity Commission report
by Reporter