Get notifications in real-time for staying up to date with content that matters to you.
First Permanent has reportedly withdrawn from the mortgage market.
Press reports this week said the firm, which is funded by Merril Lynch, will cease processing all new loan applications but will continue to service existing loans.
The news comes as Merril Lynch is set to report new write-downs of US$6-8 billion ($6.4-8.6 billion), according to The Wall Street Journal.
Mortgage Business was unable to contact First Permanent; the lender’s website was also down.
Published: 17-04-08
Major bank overhauls assessment process
A big four bank has bolstered its assessment team and will priori...
Industry reacts to cash rate decision
The Reserve Bank of Australia has announced its decision to leave...
Ignorance of extended asset write-off a boon for brokers
More than a third of SMEs are unaware of the extended instant ass...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Receive breaking news direct to your inbox each day
