Industry welcomes BID review but defends broker judgement

Home owners seeking to trade up in the market have accounted for a record share of Australian Finance Group’s mortgage lodgements, even as overall lending volumes have fallen

The Australian Securities and Investments Commission’s (ASIC) review of mortgage brokers’ compliance with the best interests duty (BID) is putting the spotlight on how brokers ...

The financial regulator has set out how it thinks brokers who use artificial intelligence should be documenting their work to meet their best interests duty obligations.