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ISCOVER
Staff Reporter
Yellow Brick Road has called on the federal government to support the securitisation of home loans.
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In the company’s submission to the Australian Senate Economics Committee's inquiry into competition within the banking sector, it asked the government to support securitisation through direct investment facilitated by the Australian Office of Financial Management.
In September 2008, the AOFM started to heavily invest in residential mortgage-backed securities under a government program in a bid to maintain competition in lending for housing in Australia.
Since its inception, almost $16 billion in funding from the AOFM has been invested in RMBS.
