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Additional funds are set to be pumped into the mortgage market with the news that the next phase of Australian Office of Financial Management (AOFM) RMBS investments are underway.
In a notice released yesterday the AOFM said it had selected three lenders for its next RMBS investment after receiving 17 proposals – the latest beneficiaries being Credit Union Australia, AMP Bank and Bendigo and Adelaide Bank.
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The AOFM noted that its latest investments remained subject to a number of conditions and finalisation but should otherwise by priced by mid-March.
The AOFM will also continue to review the remaining proposals, with further investment mandates to be announced “in due course”.
Resimac, FirstMac, Challenger and Members Equity each received $500 million via the scheme last year.
