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Mortgage managers are starting to feel the squeeze. Property markets are tightening and margins are shrinking. To top it off, mainstream lenders are also scrambling to undercut each other in order to attract borrowers.
If these conditions aren’t enough to keep most non-bank lenders on their toes, the timing of HLP’s collapse could not have been worse. Unfortunately, it appears that little was done to properly manage the situation and there’s no doubt that the lack of proper damage control has left some brokers questioning the security of working closely with the non-bank sector.
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