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Economy

Royal commission to cost banks billions in revenue
14 May 2018
mortgagebusiness

Higher capital requirements, tighter regulation and the high costs of adopting and implementing measures in response to commission outcomes are expected to have a significant impact on the ...

Investors ‘spooked’ as loan demand drops
14 May 2018
mortgagebusiness

Home loan demand from investors has dropped by 9 per cent, the largest monthly percentage decline since 2015, new data has revealed.

Government failing to assist FHBs, says bank
11 May 2018
mortgagebusiness

Over half of Australians are unaware of a government initiative designed to assist first home buyers, according to new research.

Federal budget ignored ‘housing crisis’: Greens
11 May 2018
mortgagebusiness

The federal government is “out of touch” and should have addressed housing affordability in the 2018-19 budget, according to the Australian Greens.

Analysis: Lessons from the Hong Kong mortgage market
11 May 2018
mortgagebusiness

A mortgage crackdown in the former British colony is creating serious consequences for borrowers and led to the emergence of a new breed of lender.

Virgin Money clarifies position on takeover bid
10 May 2018
mortgagebusiness

Virgin Money Australia has stated that the outcome of a foreign takeover bid initiated by a former NAB-owned lender will not impact the company.

Economist ‘nervous’ about credit restrictions
10 May 2018
mortgagebusiness

The big four banks will struggle to maintain profitability as residential mortgage lending eases and compliance costs rise, according to Fitch Ratings.

AMP to ‘vigorously defend’ shareholder lawsuits
10 May 2018
mortgagebusiness

The wealth giant has said that it will “vigorously defend” itself against the two shareholder litigation suits it has been served, but reiterates and reaffirms its “unreserved apology” for ...

Prospa prepares to float
10 May 2018
mortgagebusiness

Small business lender Prospa is expected to list on the ASX next month should its current capital raising and bookbuild efforts prove successful.

Genworth reports 71% decline in profit
9 May 2018
mortgagebusiness

The mortgage insurance provider has reported a 70.9 per cent decline in underlying profit for the first quarter of FY18 after realising gains from a rebalanced investment portfolio.