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Liquidity boost for mortgage lenders

Staff Reporter 1 minute read

Additional funds are set to be pumped into the mortgage market with the news that the next phase of Australian Office of Financial Management (AOFM) RMBS investments are underway.

In a notice released yesterday the AOFM said it had selected three lenders for its next RMBS investment after receiving 17 proposals – the latest beneficiaries being Credit Union Australia, AMP Bank and Bendigo and Adelaide Bank.

The AOFM noted that its latest investments remained subject to a number of conditions and finalisation but should otherwise by priced by mid-March.

The AOFM will also continue to review the remaining proposals, with further investment mandates to be announced “in due course”.

Resimac, FirstMac, Challenger and Members Equity each received $500 million via the scheme last year.

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