Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Mortgage funding outlook improving

Staff Reporter 3 minute read

Members Equity has successfully priced a $600 million RMBS deal making it the second lender to benefit from the Australian office of Financial Management’s (AOFM) liquidity program which aims to invigorate the second tier and non-bank lender market.

The deal consisted of 4,503 full documentation home loans with a weighted average loan to value ratio of 64.6 per cent.

Meanwhile banks are lining up to trial the government’s wholesale funding guarantee which will provide banks with greater access to tight credit markets.

The guarantee works by enabling banks to capitalise on the government’s AAA credit rating to borrow funds.

Advertisement
Advertisement

Despite some concern that the scheme will not function without legislation to back it, one big four bank executive told the Australian Financial Review today that he’d expect all of the major banks to complete a deal before Christmas as a result of the guarantee.

Published: 24-11-08

Today's other news

Mortgage funding outlook improving
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
handshake news Ex-broker head to lead MyState banking

A former broker head has returned to MyState Bank to tackle turna...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...