Lender

The major bank has announced changes to its remuneration structure as part of its response to the banking royal commission’s final recommendations.

The major bank has announced plans to launch a new “complimentary” insurance feature for all owner-occupied home loan customers in the event of terminal illness or death. 

HSBC Australia has reported mortgage portfolio growth of $1.7 billion over the June quarter, coinciding with a spike in the market share of the non-major lenders.

The Federal Reserve has reduced rates for the first time in almost a decade, which, according to analysts, will serve as an insurance policy to mitigate global economic risks.

The touted improvement in housing market sentiment off the back of the federal election has been reflected in the latest APRA data, with the Commonwealth Bank the largest beneficiary.

The mortgage insurer has reported a 110 per cent increase in its statutory profit, partly driven by growth in LMI issuance, and has also announced the launch of a new product offering.  

The major bank has revealed that the private information of approximately 13,000 of its customers has been uploaded to the servers of two unauthorised companies.

The non-major bank has reported home loan portfolio growth of 3 per cent over the first quarter of the 2020 financial year.

Two more credit providers have announced changes to their home lending policies, as the market’s response to APRA’s new mortgage serviceability guidance continues. 

Join Annie Kane and Charbel Kadib as they delve into the latest themes and developments in the home loan market.