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.

Members Equity Bank to fund mortgages from deposits

Staff Reporter 1 minute read

Members Equity Bank looks set to overhaul the way it funds home loans as a result of the liquidity problems affecting financial markets, reports The Courier-Mail.

Since acquiring its banking licence in 2001, Members Equity Bank has relied on RMBS to finance its lending activities. However, since the August funding crisis the bank has been forced to diversify its funding base.

The bank’s chief financial officer Nick Vamvakas said that retail deposits lodged with the bank would now be used to finance home loans from January.

 

Members Equity Bank to fund mortgages from deposits
default
TheAdviser logo

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

default

 

more from the adviser
Finsure rebrand

Breaking News

Finsure sale clears regulatory approval

APRA has given the green light to BNK offloading its mortgage agg...

house sold

Breaking News

Hot Property: The biggest property headlines from the week 17-21 January

The weekly round-up of the biggest news stories from across Momen...

mortgage growth

Breaking News

AFG broker lodgements hit new record

Brokers aggregating under the group wrote a record $92 billion of...