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Rate exceptions, major banks, NAB, CBA, Wetspac

Major banks outline thoughts on flat-fee model
by Reporter • 10 Apr 2018
Several major banks have warned the royal commission of the “potential adverse consequences” of moving from the... READ MORE
Prospa, board members,

Prospa announces new chairman and board members
by Reporter • 9 Apr 2018
The SME lender has announced the appointment of a new chairman and two new board members. READ MORE
Partnership

Annex Group partners with brokerage
by Reporter • 9 Apr 2018
An Australian mortgage business developer has partnered with a brokerage with a network of 1,000 brokers. READ MORE
Scrutiny

Bankers’ lack of expense scrutiny shows trust in brokers: HashChing
by Reporter • 9 Apr 2018
The chief operating officer of online mortgage marketplace HashChing has suggested that the royal commission’s... READ MORE
Caution

‘Nothing to suggest brokers are causing systemic harm’: MFAA
by Reporter • 9 Apr 2018
The head of the Mortgage and Finance Association of Australia has said that while the industry would support changes... READ MORE
face-to-face broking

Domain Loan Finder considers face-to-face broking option
by Reporter • 6 Apr 2018
The head of Domain Loan Finder, the JV mortgage operation between Domain and Lendi, has revealed that the platform is... READ MORE

Association head calls for ‘industry unity’
by Reporter • 6 Apr 2018
The broking industry should work together to minimise the impact of negative publicity and reinforce the benefits of... READ MORE
Prohibit, exclamation signage

ASIC could prohibit remuneration structures under proposed law
by Reporter • 6 Apr 2018
A new bill could enable ASIC to prohibit remuneration structures that result in “significant consumer detriment”,... READ MORE

Major banks say brokers act for customers, not banks
by Reporter • 6 Apr 2018
Several major banks have answered a call to clarify where broker allegiances lie, telling the royal commission that... READ MORE
Financial planners, credit advice

Financial planners want to offer credit advice
by Reporter • 6 Apr 2018
The Financial Planning Association has backed calls for financial planners to provide credit advice, but it said that... READ MORE

Homeloans CFO steps down
by Reporter • 5 Apr 2018
Non-bank lender Homeloans Ltd has announced that its chief financial officer, Ian Parkes, has resigned. READ MORE
propertion of broker flows, arrow down, percentage went down

CBA sought to halve broker flows in 2016
by Reporter • 5 Apr 2018
Confidential internal documents from the Commonwealth Bank show that the bank sought to reduce the proportion of broker... READ MORE
Money, broker commissions

Banking association backs broker commissions
by Reporter • 5 Apr 2018
Fees for service would not benefit brokers, the Australian Banking Association has told the Productivity Commission,... READ MORE

Former Connective BSM to head up Auswide broker channel
by Reporter • 4 Apr 2018
Auswide Bank has announced that it has appointed a new head of third party. READ MORE
Million dollars

La Trobe Financial announces ‘record’ pricing for sixth RMBS
by Staff Reporter • 4 Apr 2018
The non-bank lender has priced its sixth residential mortgage-backed securities (RMBS) issue at a “record” $750... READ MORE

RBA supports best interests duty for brokers
by Reporter • 4 Apr 2018
The Reserve Bank of Australia has revealed that it believes all brokers should be required to act in a consumer’s... READ MORE

Major bank market share slips as non-major share rises
by Reporter • 4 Apr 2018
The number of mortgages being sent to the major banks by brokers has fallen, according to the latest figures from the... READ MORE

Mortgage Choice CEO resigns
by Reporter • 3 Apr 2018
Mortgage Choice has announced that its CEO, John Flavell, has resigned, effective immediately. READ MORE
ME bank acknowledges brokers for profit growth

ME acknowledges brokers for profit growth
by Tas Bindi • 3 Apr 2018
The non-major bank has reported that its statutory profit growth has grown by 58 per cent, driven in part by increased... READ MORE

RBA announces cash rate decision - Apr 2018
by Reporter • 3 Apr 2018
The Reserve Bank of Australia has today announced the official cash rate for April following its monthly board... READ MORE
Loan comparison tool

Loan comparison tool could undermine broking, banks warn
by Reporter • 3 Apr 2018
A loan comparison tool proposed by the Productivity Commission could compete with the broker channel, according to six... READ MORE

New law requires ASIC to consider competition
by Reporter • 3 Apr 2018
The federal government has introduced legislation that requires the financial services regulator to “consider the... READ MORE
Auction bidder

1 in 5 auction bidders failed to get lender pre-approval
by Tas Bindi • 3 Apr 2018
Eighteen per cent of Australian bidders have failed to get pre-approved finance prior to attending an auction, a new... READ MORE
Money, cash

Fees for service could have ‘perverse impact’: CIF
by Reporter • 29 Mar 2018
The Combined Industry Forum has warned the Productivity Commission of the “unintended consequences” of introducing... READ MORE

CBA changes broker segmentation model

by Reporter • 29 Mar 2018
The Commonwealth Bank of Australia is amending the way it segments its accredited brokers, moving to a two-tier system... READ MORE