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Innovation to drive mortgage industry growth

Staff Reporter 4 minute read

The mortgage broking industry is on the verge of a new era that is governed by regulation and liquidity of funds, according to the Australian Banking + Finance publisher.

Speaking to The Adviser, Australian Financial Publications – publisher of Australian Banking + Finance – managing director Andrew Stabback said there are many forces currently reshaping the broking industry.

“These forces range from concentration of banking and broking operations amongst a few major institutions to new regulation at the credit origination end as well as bank liquidity requirements that are being debated amongst the world’s leading banking regulators,” Mr Stabback said.

“One of the biggest drivers of change will, however, be both the cost and availability of funds or capital that the banking sector will be able to allocate to mortgages as opposed to other uses for capital.”

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According to Mr Stabback, the last few months have been encouraging for the financial institutions that rely on the capital markets for survival.

“The revival of securitisation is like a breath of fresh air for the mortgage sector. With cost effective funding starting to feed the bank and non-bank sectors we will see the smaller and more nimble mortgage manufacturers come back to life with new products and innovation we haven't seen for the last two years,” he said.

Mr Stabback said new regulation will force the industry to become more innovative, exploring areas such as electronic conveyancing and alternative forms of funding.

In line with the industry's evolutions, Australian Banking + Finance magazine will be hosting a Mortgage Innovation Forum.

The Forum will give brokers an insight into the many different forms innovation can take for the Australian mortgage industry – not just new products but through improvements to the supply or value chains.

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The two day forum will kick off on 30 March 2010 and is expected to a draw a diverse crowd of industry figureheads.

Held at the Four Seasons Hotel on George Street, Sydney, the forum costs $575 to attend.

To register for the forum click here.

Innovation to drive mortgage industry growth
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