AIMS Home Loans (AIMS) informed brokers yesterday that it had temporarily suspended new applications for its low-doc and no-doc products.
Speaking with Mortgage Business today, AIMS head of credit and support Jim Miltiadis emphasised that the suspension would only be short-term.
“The suspensions are simply a prudent step we have taken to review our products, our internal processes, recent credit restrictions introduced by LMI providers, and the impending increase in LMI premiums,” he said.
“It is certainly only a temporary withdrawal,” he said.
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