As read in Mortgage Business – Asset rich and cash poor Baby Boomers are expected to double the number of reverse mortgages within the next 10 years, according to a finance broker. Diversifi’s Rose De Rossi says Baby Boomers will significantly accelerate the number of reverse mortgage loans in the next decade. According to […]
As read in Mortgage Business online – Ratings agency Moody’s Investors Service has affirmed Australia’s AAA credit rating, saying its strong institutional frameworks and economic resilience have contributed to a stable outlook. Moody’s stable outlook for Australia comes close to a month after Standard & Poor’s downgraded the country’s credit outlook earlier this year.Australia also […]
As read in Mortgage Business – In his final speech, outgoing RBA governor Glenn Stevens said it may take “a moment of crisis” for a hard-nosed conversation on the reality of our economic situation to occur. Speaking at the Anika Foundation Luncheon in Sydney yesterday, Mr Stevens took the opportunity to colour his final address […]
As read in Mortgage Business – Ian Narev, CEO of the Commonwealth Bank of Australia, has said that the bank sees the mortgage broking industry as “an ongoing channel where customers are going to want to do business”. The statement came following the bank’s end of year financial results, which revealed that brokers made up […]
What is pre-approval and what is subject to finance? Many first home buyers believe you don’t need pre-approval if you intend to use a subject to finance clause in the sales contract when you find a property to buy .But that’s not the case! In this article I explain why it’s a wise move to […]
As read in Australian Broker ANZ has cracked down on lending policies governing loan guarantors, limiting the leverage that family members can take on to assist first home buyers, despite new data showing housing is more unaffordable than ever. In a note sent to mortgage brokers, the major bank said it would be limiting who can […]
As read in Australian Broker an independent review of commissions and payments made to bank staff has been announced as an ASIC-led review of mortgage broker remuneration is currently underway. Former Australian Public Service Commissioner, Stephen Sedgwick AO, has been appointed to conduct the review, commissioned by the Australian Bankers’ Association (ABA), to determine if […]
As read in Mortgage Business A crackdown on lending to foreign buyers has seen a number of banks pull out of the space in recent months. However, the majors have been tight-lipped since reports of mortgage fraud hit the headlines. Speaking at an FBAA event in Sydney last month, industry veteran Steve Weston said that […]
As read in Australian Broker Pressure on bank staff to push “unsuitable” financial products on customers is hurting the integrity of the industry, the Finance Brokers Association of Australia (FBAA) has warned. The FBAA is responding to a Fairfax Media report, which claimed Commonwealth Bank staff felt pressured to meet performance targets to sell products which are […]
As read in Mortgage Professional Website They are some of the areas that have suffered the most since the end of Australia’s resource boom, but there are some signs Queensland’s regional property markets may be on the brink of turning the corner. The end of the resource boom saw some prices collapse by more than […]
