Lender

The SME lender’s loan origination volumes continue to recover from its COVID trough, but originations in 1H21 were still down 41.1 per cent on the pcp.

Politicians have traded blows while debating the repeal of responsible lending laws in the lower house, ahead of today’s Senate hearings.

The non-bank lender reported an 88 per cent rise in profit and a 14 per cent increase in its loan book over 1H21, despite a drop in the volume of new settlements.

There was a 26 per cent rise in loans originated through the broker channel at the non-major bank as at 31 December 2020, according to its results.

The non-bank has reported an 11 per cent growth in new loans written for 1HFY21, with the majority of these loans originated through the broker channel.

The major brokerage has hired 148 new client service managers since October, as it works to bring in 250 new members to the network by September.

Greater Bank has revealed that 75 per cent of its customers are now more than one month in advance on repayments.

The former head of ME Bank’s mortgage lending division has joined the mutual bank in a newly created role.

The competition watchdog is set to make good on its recommendations for improving the mortgage process, and will also be announcing enforcement outcomes in the coming months.

The major bank has announced cuts to fixed home loan rates of up to 55 bps, while forecasting house price growth of around 10 per cent this year.