An increasing number of loans lodged by brokers are progressing to settlement, despite increased scrutiny on mortgage applications, according to MFAA research.
ABA CEO Anna Bligh has urged small-business owners to seek credit, amid new research reporting loan approval rates of 94 per cent.
BOQ and Heritage have both made updates to their processes for expense validation, effective immediately.
The big bank has responded to the ABA’s new Banking Code of Practice with the introduction of its Customer Support Hub.
Contrary to industry expectations, the MFAA has reported a decline in the number of commercial loans written by mortgage brokers.
SME lender Grow Asset Finance has purchased Eclipx Commercial for $14.6 million, as Eclipx divests its assets to reduce debt.
The SME lender has launched a new, interactive education program to assist brokers transition into SME lending.
The average annual commission earned by a broker has slipped to a record low, according to new MFAA research, which has come amid renewed calls for clawback reform.
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