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CBA withdraws from SMSF lending

The Commonwealth Bank of Australia has become the latest major bank to withdraw from self-managed super fund lending, announcing that it will pull its SuperGear lending product from next ...

CBA, Commonwealth Bank of Australia, SMSF lending, SuperGear lending product
Credit union’s profits driven by 6.9% growth in residential lending

A customer-owned lender has reported a net profit after tax of $32.2 million, off the back of its “success in residential lending”.

mortgagebusiness
Lenders committed to CCR regardless of legislation approval

The remaining three major banks will be accompanying NAB as participants of the comprehensive credit reporting regime by the end of this month, the chair of ARCA has confirmed.

mortgagebusiness
Foreign-backed lender to target ‘orphaned’ borrowers

A non-bank lender supported by international banks has secured $500 million in funding as it aims to exert its presence in the Australian mortgage market by appealing to borrowers that have ...

Target, borrowers, lender, foreign lenders, Brighten Home Loans
CBA announces new board appointment

The major bank has appointed the former managing director and CEO of BlueScope Steel to its board of directors.

mortgagebusiness
PM applauds NAB’s rate inaction

Prime Minister Scott Morrison has welcomed the major bank’s decision to keep its variable home loan rates on hold in order to “rebuild the trust” of its customers.

NAB, rate inaction, Prime Minister Scott Morrison, variable home rates, loan rates
LATEST PODCAST: Responsible lending back in the spotlight

The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.

LATEST PODCAST: Responsible lending back in the spotlight
Mortgage ‘misstatements’ higher among majors: UBS

Home loans submitted to major banks contain a higher number of reported misstatements than mortgages lodged to smaller lenders, according to the latest UBS research.

home loans, mortgage, UBS
More majors pull interest rate trigger

Two more majors have announced that they will increase interest rates on their owner-occupier and investment home loan offerings, following Westpac’s 14 basis point hike last week.

Westpac, ANZ, CBA, interest rate, variable rate home loan
Non-major appoints former NAB exec to board

A regional bank has appointed Telstra’s executive director, strategy and business, to its board.

mortgagebusiness
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