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ISCOVER
It’s been a big year for mortgage broking. This year’s top 10 stories reveal what headlines caught the industry’s attention over the last 12 months.
10. Bank enters broker channel (4,782 views)
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The Adviser broke the news of HSBC’s return to broking in the second half of 2016. However, it was Unibank's bank’s entry into the third-party channel that got more attention from brokers this year.
9. Banks join online mortgage platform that bypasses brokers (4,815 views)
The emergence of new online mortgage players was a big theme in 2016. Back in May, Joust announced a handful of lenders has decided to distribute home loans through its platform.
8. Bank flags broker commission ‘challenges’ (4,960 views)
Early on in 2015 a leading non-major bank spoke out about the challenges brokers face as commissions came under the regulatory spotlight
7. Major aggregator trialling digital mortgage process without brokers (5,026 views)
AFG’s decision to trial a new home loan delivery service through comparison website iSelect got plenty of brokers talking last month.
6. ANZ third-party boss steps down (5,231 views)
At the end of April Keiran Evans announced that he would step down as the head of third-party at ANZ. He has since taken up a role with AFG’s commercial lending business.
5. Major bank launches online home loan approval tool (5,362 views)
One of the biggest stories of the year was the launch of NAB’s new online home loan approval. NAB’s goAHEAD portal allows borrowers to submit their home loan application in under 15 minutes.
4. Brokers react to Westpac’s shock lending decision (6,101 views)
Pricing and policy changes from the banks continued to play a major role in 2016. Westpac’s decision to change its mortgage policy for non-residents sparked a strong reaction from brokers. A handful of banks, including the remaining three majors, soon followed with similar announcements.
3. AFG terminates agreement with new mortgage player (6,587 views)
One of the most widely read stories of 2016 was online start-up Hero BroKer’s ongoing battle to break into the mortgage market.
2. ANZ closing branches with firm eye on broker channel (6,638 views)
It was music to the ears of brokers when JP Morgan revealed that ANZ had closed a significant number of branches as it looks to ramp up its reliance on third-party distribution.
1. ANZ reviewing brokers over mortgage documents (6,900 views)
Almost 7,000 industry professionals read about ANZ’s decision to review a number of brokers after the bank identified issues with income documentation for home loans.
