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Economy

AMP announces changes to board

The wealth and banking group has announced the latest addition to its board of directors and the retirement of a board member after three years of service.

AMP
Firstmac completes $1.1bn RMBS

Non-bank lender Firstmac has completed a residential mortgage-backed securities issuance of $1.1 billion, bringing the total amount raised by the company this year to $3.5 billion.

Firstmac
Home owners in rush to renovate

Almost two-thirds of home owners are making improvements to their home ahead of the Christmas period, according to new research.

Home improvement
LandMark White rebrands

The property valuation firm has commenced operating under a new business name.

Timothy Rabbitt
Major bank drops mortgage rates

A big four bank has announced cuts to its variable home loan rates across both its owner-occupied and investment products, with its basic variable rate dropping to its “lowest level on ...

Arrow down
Challenger appointed ABSF investment manager

The government’s AOFM has appointed Challenger Investment Partners as the external investment manager to oversee the administration and portfolio maintenance of the new business ...

mortgagebusiness
APRA proposes banking data transparency

A new proposal made by APRA could see the financial data of banking institutions made publicly available, to an extent that greatly exceeds current data publication practices.

mortgagebusiness
Big 4 to carry heavier capital burden

New Zealand’s central bank has introduced new regulatory requirements that would require Australia’s major banks to hold billions in additional capital.

Big four banks
NextGen announces new document verification service

The technology services provider has announced a new service that automatically validates customers’ identification documents against government databases, reportedly cutting down loan ...

NextGen announces new document verification service
Stability risks quelled by housing recovery

The national turnaround in the housing market has injected Australia’s financial regulators with renewed confidence.

APRA, RBA, ASIC, Treasury
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