Economy

The non-bank lender has issued its first RMBS transaction since the COVID-19, with the AOFM providing secondary market support with cornerstone investors.

The investor service has revised its outlook for mutual banks to negative, as the economic fallout of COVID-19 continues.

Prime Minister Scott Morrison has acknowledged the threat that a COVID-induced decline in migration could pose to residential property market activity.

All 5,000 places allocated for non-major participating banks within the FHLDS have now been exhausted, three months after launching.

The non-major has introduced a new digital verification tool in a bid to simplify the application process via the third-party channel.

Auction clearance rates have risen to their highest level since the onset of the COVID-19 crisis, new data has revealed.

Modelling of sales volumes by CoreLogic has shown that across Australia, residential property sales may have declined by about 40 per cent over April.

The NSW government has eased social distancing restrictions, enabling small businesses to open their doors to a larger number of patrons.

The bank has reduced its qualifying rate in a bid to maintain its competitive position in the market.

Mainstream lenders are “going to have to develop new skills” to assess serviceability as a result of COVID-19 fallout, the co-founder and CEO of the neobank has suggested.