Breaking News

target, major litigation

Brokers targeted in major litigation proceedings
by Reporter • 18 Sep 2018
Maurice Blackburn Lawyers has confirmed that it is preparing court proceedings against the major banks and brokers in... READ MORE

‘Vast majority’ of brokers reaccredit with CBA
by Reporter • 18 Sep 2018
The major bank has finished its reaccreditation process for “inactive” brokers and will now begin contacting... READ MORE
NAB, broker partnerships, Mike Baird

Mike Baird to head up NAB broker partnerships
by Reporter • 17 Sep 2018
The former NSW Premier and Treasurer is to take up a new role as head of NAB’s retail banking business, responsible... READ MORE
acquisition

Firstmac announces bid to acquire lender
by Reporter • 17 Sep 2018
The non-bank lender has announced the proposed acquisition of a Queensland-based lender, following its failed... READ MORE
variable rates, home loans, borrowers

Borrowers still opting for variable rates despite hikes
by Reporter • 17 Sep 2018
Out-of-cycle rate hikes from non-major banks have not weakened demand for variable rates. However, recent pricing... READ MORE
digital documentation

New digital documentation service for brokers launches
by Reporter • 17 Sep 2018
A non-bank lender and law firm have partnered to release a new digital documentation service for brokers and their... READ MORE

Details of YBR takeover offer revealed
by Reporter • 14 Sep 2018
Yellow Brick Road has released the details of the Mercantile OFM takeover offer, including what would happen to the... READ MORE
Broker, growth, arrow up, increase

Rapid broker growth delivers results for lender
by Reporter • 14 Sep 2018
Australia’s largest credit union has announced that the share of broker lending has risen dramatically over the past... READ MORE
Australian money, cash, mortgage facility

YBR opens negotiations with major for $300m mortgage facility
by Reporter • 14 Sep 2018
The financial services franchise group has announced that it has commenced negotiations with a major bank to secure a... READ MORE
asic ban westpac employee stop sign

Tribunal upholds ASIC ban on former Westpac employee
by Reporter • 14 Sep 2018
A former Westpac employee will be prohibited from providing financial advice for three years after the Administrative... READ MORE
new marketing platform, launch

Aggregator launches new marketing platform for brokers
by Reporter • 14 Sep 2018
Finance aggregator Connective has announced the launch of a new marketing platform for brokers to automate client... READ MORE

‘Concerning’ levels of poor mental health in financial services
by Reporter • 13 Sep 2018
The CEO of mental health organisation SuperFriend has said that there are some “concerning statistics” around... READ MORE
Mortgage, property, living a comfortable, retirement

No mortgage key to living a comfortable retirement
by Reporter • 13 Sep 2018
Not having to worry about paying a mortgage or rent is among the top things that Australians across all generations... READ MORE

ASIC approves AFCA’s complaint resolution rules
by Reporter • 13 Sep 2018
The corporate regulator has approved the rules underpinning the Australian Financial Complaints Authority’s... READ MORE
Reject, decline

60% of non-conforming borrowers don’t get a loan
by Reporter • 13 Sep 2018
Around six in 10 potential non-conforming borrowers don’t end up getting a loan because they are either rejected or... READ MORE
Commissions, drawdowns, broker

Commissions to be paid on successive drawdowns, CIF confirms
by Reporter • 12 Sep 2018
As lenders begin to change the way they remunerate brokers off the back of regulator recommendations, the Combined... READ MORE
customer account passwords

Banker released customer account passwords to broker
by Tas Bindi • 12 Sep 2018
Around 80 Westpac customer account passwords were reset and then shared with a mortgage broker, according to new... READ MORE
cost of broker reforms

Aggregators, lenders to bear the cost of broker reforms
by Tas Bindi • 12 Sep 2018
The cost of implementing the CIF’s broking industry reforms will largely fall on aggregators and lenders, according... READ MORE
Leave, resign, managing director, step down

ALIC MD to step down from brokerage
by Reporter • 12 Sep 2018
The Australian Lending and Investment Centre’s managing director is to leave his role at the leading brokerage later... READ MORE
nab building change to mortgage broker commission calculations

Major bank changes broker commissions
by Reporter • 11 Sep 2018
A big four bank has announced changes to how mortgage broker commissions are calculated, in line with recommendations... READ MORE
sanctions, code of conduct, breaches

CIF considering sanctions for breaches of mortgage industry code
by Tas Bindi • 11 Sep 2018
The Combined Industry Forum is mulling over the sanctions that could be introduced in the event that brokers are found... READ MORE
ASX board

Mortgage Choice to be removed from ASX 300 list
by Reporter • 11 Sep 2018
The broking franchise is set to be removed from the ASX 300 list due to the company "no longer meeting criteria for... READ MORE
NAB, breaking apart

Opinion: Is NAB breaking up with the majors again?
by Reporter • 11 Sep 2018
NAB’s decision to break from the pack and hold its variable interest rates steady echoes its 2011 marketing strategy... READ MORE
Partnership, handshake, brokerage

Lender announces partnership with brokerage
by Reporter • 11 Sep 2018
A bank has announced that it has expanded its third-party distribution network by partnering with a broking franchise. READ MORE
hike rates

Majors accused of ‘anti-competitive’ behaviour
by Reporter • 10 Sep 2018
The industry has responded to the “surprising” out-of-cycle interest rate hikes from three of the big four banks,... READ MORE