Lender

Auswide’s bid to acquire a Queensland-based lender has been rejected by the group’s board. 

The “extremely uncertain” housing market outlook is set to trigger a “collapse” in demand that could last until late 2021, according to ANZ Research.

The bank’s move to reduce the amount borrowers could redraw was “absolutely” the right decision, CEO Jamie McPhee has told a parliamentary committee.

ASIC has facilitated over $160 million in remediation payments to more than 430,000 customers who have been sold “junk" consumer credit insurance from lenders and insurers.

Two ex-Westpac group executives have teamed up to create a new digital home loan provider, successfully closing a $33-million capital raise.

The major bank has earmarked an extra $1.5 billion for forward-looking adjustments in relation to COVID-19, bringing the total provisions to $6.4 billion.

La Trobe Financial has announced an RMBS raising of over $1 billion, with the AOFM involved in the deal.

The non-major has joined peers in tightening its credit policy, with new measures put in place to verify a borrower’s financial position prior to final approval.

The major bank has announced a number of changes to its home lending policy, including a reduction to the maximum LVR for self-employed applicants.

The financial services group has forecast $2.7 billion in costs for the 2020 financial year, which includes $133 million in credit provisions linked to the COVID-19 crisis.