The MFAA will step up its push for a government-backed funding source today in a verbal submission to the House of Representatives Standing Committee on Economics.
Phil Naylor, MFAA chief executive, said securitised funding sources were imperative to a competitive mortgage market.
“We are calling on the government to give serious consideration to establishing an Australian version of the Canadian Mortgage Bonds program,” he said today.
“We need securitised sources of funding to keep competition alive.”
The association’s call follows an indication from RBA assistant governor Philip Lowe yesterday that such government intervention is not necessary.
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