ISCOVER
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.
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“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.
Published: 14-08-08
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