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APRA curbs cost taxpayers $500m
by Sasha Karen • 7 Aug 2018
APRA’s macro-prudential curb on investor lending has cost taxpayers an estimated $500 million, according to the... READ MORE

RBA reveals August cash rate

by Reporter • 7 Aug 2018
The Reserve Bank of Australia has today announced the official cash rate for August following its monthly board... READ MORE
AFG, warning

Removal of trail would reduce competition, warns AFG
by Reporter • 7 Aug 2018
Abolishing trailing commissions for mortgage brokers would reduce competition, drive up home loan rates and make banks... READ MORE
Dollar sign, hand, financial services

Comparison sites ‘do not necessarily provide good advice’: PC
by Tas Bindi • 7 Aug 2018
Financial services comparison sites “do not necessarily provide good advice” to customers and often operate on... READ MORE

Broker head leaves bank to launch consultancy business
by Reporter • 6 Aug 2018
Michael Trencher, the head of broker distribution at Heritage Bank, has left the bank to set up his own coaching and... READ MORE
Loan calculator

More customers asking for smaller banks: Survey
by Reporter • 6 Aug 2018
A new survey has found that 70 per cent of brokers have experienced an increase in the number of clients requesting... READ MORE
calls for calm

Industry reeling from PC trail stance but calls for calm
by Reporter • 6 Aug 2018
Several heads of industry have voiced shock and disappointment at the Productivity Commission’s recommendations on... READ MORE

Brokers and bankers should have ‘best interest’ obligation: PC
by Reporter • 3 Aug 2018
Brokers, bank staff and anyone who directly interacts with and offers or recommends a home loan to a borrower should be... READ MORE

Remove trail, says final Productivity Commission report
by Reporter • 3 Aug 2018
Trail commissions should no longer form part of a broker’s remuneration structure, the Productivity Commission has... READ MORE
Scott Morrison

Treasurer slams major banks for ‘subsuming’ broker industry
by Reporter • 3 Aug 2018
Treasurer Scott Morrison will deliver a speech today in which he will chastise the big four banks for having... READ MORE
Banning trail commission

NSW government suggests banning trail commission
by Reporter • 3 Aug 2018
Prohibiting the payment of trailing commission could ensure that it no longer contributes to “consumer detriment with... READ MORE
credit scrutiny

Brokers ‘shocked’ and ‘surprised’ by level of credit scrutiny
by Reporter • 3 Aug 2018
Brokers are “concerned” by increasingly stringent serviceability and lending policies, a leading broker has said,... READ MORE
ASIC

ASIC calls on industry to submit business metrics
by Reporter • 3 Aug 2018
The financial services regulator is calling on all regulated organisations to submit their business metrics via a new... READ MORE
variable rate mortgage victoria drive demand red house percent

Victorians continue to lead variable rate mortgage drive
by Reporter • 2 Aug 2018
Mortgagors in Victoria are continuing to drive demand for variable rate home loans, while Western Australians are... READ MORE

Changing demographics to alter dwelling demand
by Reporter • 2 Aug 2018
As Generation Y begins to enter the housing market, there could be a change in the types of dwellings sought after, a... READ MORE
rate hike, political scrutiny, magnifying glass

‘Political scrutiny’ delaying big bank rate hike
by Reporter • 1 Aug 2018
Australia’s major banks have traditionally been the first to respond to higher funding costs by hiking interest rate;... READ MORE
digital channels, technology, brokers

Broker and borrower needs ‘changing rapidly’, says bank head
by Reporter • 1 Aug 2018
The needs of brokers, bank customers and the broader community are “changing rapidly” as technology develops and... READ MORE
new relationship manager

Short-term funder hires new relationship manager
by Reporter • 31 Jul 2018
A non-bank lender has appointed a new national relationship manager to help facilitate the growing demand for... READ MORE
meeting, discussion, ongoing service, brokers

Trail book buyer requires brokers to provide ongoing service
by Reporter • 31 Jul 2018
Effective immediately, Trail Homes will require brokers that are selling their trail books to provide ongoing service... READ MORE
Evidence, vertical integration harming consumers, magnifying glass

Vertical integration not a worry for Treasury
by Tas Bindi • 31 Jul 2018
The Australian Department of Treasury has told the financial services royal commission that there is a lack of evidence... READ MORE
Document, requirements

Tighter serviceability long overdue, says broker
by Reporter • 30 Jul 2018
A Perth-based mortgage broker has welcomed tighter serviceability requirements, noting that such questions should have... READ MORE
broker businessman and businesswoman talking brokers charge clawback clauses

Borrowers wouldn’t use brokers who charge clawbacks: Survey

by Tas Bindi • 30 Jul 2018
Nearly 80 per cent of mortgagors would be put off using a broker that charged a clawback fee, with just as many not... READ MORE
Puzzle piece

Brokerage completes management buyout
by Reporter • 30 Jul 2018
A South Australia-based mortgage brokerage has re-branded after its management assumed a controlling stake in the... READ MORE
interest, money, cash, Australian dollar

Best interests duty needs ‘careful consideration’: Treasury
by Reporter • 30 Jul 2018
Treasury has said that while there may be an “in-principle case” for introducing a duty for brokers to act in the... READ MORE
Westpac

Westpac to fast-track remuneration reform ahead of RC report
by Tas Bindi • 30 Jul 2018
The major bank has pledged to fast-track the process of implementing recommendations from the Sedgwick review published... READ MORE