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Economy

Non-bank announces ‘major strategic partnership’ with fintech
21 August 2018
strategic partnership, Homeloans Ltd,  Macquarie-backed fintech, mortgage market

Homeloans Ltd has entered into a “strategic partnership” with a Macquarie-backed fintech, which has been founded by two former NAB executives in a bid to take a “bigger slice” of the ...

ASX invests in e-conveyancing venture
21 August 2018
e-conveyancing, venture, ASX, investing

The Australian Securities Exchange has announced that it has invested nearly $7 million into electronic property conveyancing and settlement venture Sympli Australia as part of a 50 per cent ...

No capital city immune to housing market cycles
20 August 2018
housing market, cycle, property market, capital city, housing market growth, Property Investment Professionals of Australia

All of Australia’s capital cities have been sensitive to housing market cycles over the past three decades, with price growth dominance shared across the country, according to new research

Bank CEO laments ‘unfair’ banking landscape
20 August 2018
unfair, thumbs down, CEO Melos Sulicich, Product Commission, APRA, Australian Prudential Regulation Authority

Smaller lenders “remain constrained” by the “unfair playing field” benefitting the larger banks, the CEO of a non-major lender has said.

Heartland restructure to aid Australian business
20 August 2018
mortgagebusiness

The New Zealand-based banking group’s proposed restructure will see its burgeoning Australian reverse mortgage business freed from the central bank’s capital requirements and poised for ...

PC calls for reform to ‘inflated’ LMI payments
17 August 2018
calls for reform, inflated, LMI payments

Borrowers paying lenders mortgage insurance should be offered more choice and ASIC should intervene to safeguard their interests, according to the Productivity Commission.

NZ passes bill banning foreigners from buying houses
17 August 2018
mortgagebusiness

Legislation banning most foreign buyers from purchasing existing residential property in New Zealand has passed its third and final reading in New Zealand Parliament.

Wage growth spike not ‘meaningful’ enough to force RBA’s hand
16 August 2018
mortgagebusiness

The central bank’s cash rate outlook will not be swayed by the latest rise in the wage growth index, according to analysts.

Consultation launches on draft Consumer Data Right
16 August 2018
mortgagebusiness

The draft legislation that is expected to underpin Australia’s new Consumer Data Right (CDR) has been released for public review and feedback.

We’d rather sit in traffic: Aussies lax on financial data security
15 August 2018
sit in traffic, financial, data security, Mastercard, Australians

Australians would rather do their taxes or sit in traffic than boost their financial data security, a new survey has revealed.