Lender

A new chief technology officer is set to join direct-to-consumer lender Tic:Toc as it ramps up capacity to meet “the surge in demand for digital lending”.

The major bank has confirmed that its new digital home loan product, Unloan, will be “focused on digital direct distribution to start with”.

The big four boss has voiced some scepticism around newer players in lending and how they present their products.

The mutual lender’s book has grown to over $8 billion, following strong growth in the final quarter of the financial year 2021, partly attributed to the broker channel.

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Reverse mortgage lenders have accessed a small fraction of the potential retiree housing market in Australia, according to Deloitte.

Pepper Money has priced its second I-Prime deal for the year, upsizing the figure to $850 million.

The LMI provider has announced a new CFO following the resignation of its current CFO, effective 24 September.

A high rate of loan repayments through the pandemic has somewhat slowed the growth of Heritage Bank’s book, despite a surge in approvals.

Heritage Bank has seen an uptick in lending in the past year, as its board continues to mull a merger with People’s Choice.