Economy

CBA and AusPost extend banking partnership
9 October 2018
mortgagebusiness

The major bank’s customers will continue to have access to “over-the-counter” banking services at Australia Post following a renewal of the pair’s partnership.

To HEM or not to HEM? Is that the question?
8 October 2018
To HEM or not to HEM? Is that the question?

OPINION: Using benchmarks for expenses has long been an accepted part of the mortgage application process, but the reliance on HEM is increasingly being called into question. The real ...

Pepper Group prices second RMBS issue of 2018
8 October 2018
mortgagebusiness

The non-bank lender has priced its second prime residential mortgage-backed securities (RMBS) transaction of 2018 at $600 million.

Bank CEO calls for ‘clarity’ over expense validation
5 October 2018
Clarification, glasses

The CEO of a non-major lender has called for a “level playing field” for serviceability assessments in the mortgage market.

Market conditions warding off RBA hike
5 October 2018
mortgagebusiness

Fitch Ratings has maintained that sluggish improvements in the unemployment rate, stagnant inflation and exchange rate depreciation would deter the central bank from lifting the cash rate ...

COBA welcomes ‘historic reform’
5 October 2018
mortgagebusiness

The industry association has expressed support for a draft bill introduced by the federal government designed to reduce barriers to capital raising by mutual banks.

House prices to drop but ‘crash landing’ unlikely
5 October 2018
mortgagebusiness

House prices could fall by another 10 per cent and a “crash landing” remains a significant risk in the aftermath of the royal commission, according to AMP’s chief economist.

Banker incentives a ‘significant cause’ of misconduct: RC
4 October 2018
NAB, banker incentives, royal commission

An incentive program run by a major bank, which rewards bankers with bonuses for achieving home loan sales targets, was a “significant cause” of misconduct involving “collusion” between its ...

Credit reporting agency fined $3.5m
4 October 2018
mortgagebusiness

Equifax, Australia’s largest consumer credit reporting agency, has been fined $3.5 million for misleading, deceptive and unconscionable conduct.

Rate pressures mounting despite cash rate stability
4 October 2018
mortgagebusiness

The regulatory and economic environment could prompt further rises in mortgage rates, despite the prolonged stability of Australia’s official cash rate, according to the CEO of a major ...