As read in The Aust Broker Online – The government has drawn a line in the sand for the comprehensive credit reporting (CCR) regime, with Treasurer Scott Morrison stating it will become mandatory from 1 July next year. Currently, less than 1% of all CCR data is shared in the public realm, Morrison said in an […]
As read in MortgageBusiness Online – Federal Treasurer Scott Morrison has outlined how removing the prohibition of the term “bank” could lead to a “flood of new online lenders” and drive rates down for consumers.Speaking at the Financial Services Council in Sydney on Monday (30 October), Mr Morrison explained how APRA’s increased powers — including oversight […]
As read in The Adviser Online -Gateway’s Mortgage Holder Sentiment Report 2017 has found that Australians with a mortgage are now more uncertain of what their home loan includes than they were in 2015. The data, gained through a quantitative survey of 1,030 people conducted through an online panel from 12 to 18 September 2017, found that a fifth […]
As read in The Adviser -Real estate agents are not doing enough to prevent identity fraud, a new survey has found. Although 40 per cent of Australian real estate agents are concerned about fraudulent activity, only 2.17 per cent use a verification app to confirm that they are dealing with the true owner despite tough […]
As read online in –The Adviser ,New research sponsored by a non-bank lender has revealed that a third of Australians are “apathetic” about shopping for a home loan, but that nearly a fifth would like a better rate but are unsure how to get one. According to a survey of 1,006 people nationwide, conducted by Galaxy Research from 7 to 10 […]
As read in Mortgagebusiness online – An increasing number of mortgages are being reclassified from investor to owner-occupier loans, new figures from the Reserve Bank of Australia have shown, with $1.7 billion of loans changed in August. The RBA’s financial aggregate figures for August 2017 show that, while the growth in credit for housing held firm […]
As read in Aust Broker OnlineMotoring association and mutual organisation Royal Automobile Club of Queensland (RACQ) has launched the RACQ Bank brand, opening 13 branches across the state. Unveiled yesterday (25 September), the bank will provide personal banking products including mortgages to RACQ’s 1.6 million members. “We’re committed to giving members honest, easy and […]
As read in Aust Broker Online -The number of Australian residential mortgages that are more than 30 days in arrears has shot up to a five year high, according to Moody’s Investors Service. The ratings agency recorded a 30+ delinquency rate of 1.62% in May this year with record high rates in Western Australia, […]
As read in MortgageBusiness online – The boss of one of Australia’s largest home loan comparison websites says that comparison rates are now obsolete and “decades behind” today’s market conditions. RateCity CEO Paul Marshall said that while the comparison rate is a good concept, it is no longer helping mortgage borrowers as much as it once did. […]
As read in Mortgaebusiness online -The structure of the Australian economy will likely “continue to change” between 2017 and 2021, the central bank has said while warning that economic shocks will also occur. In its 2017/18 Corporate Plan, the Reserve Bank of Australia (RBA) said that its monetary policy performance objective was to achieve an […]
