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Industry reeling from PC trail stance but calls for calm
by Reporter • 6 Aug 2018
Several heads of industry have voiced shock and disappointment at the Productivity Commission’s recommendations on...READ MORE
Brokers and bankers should have ‘best interest’ obligation: PC
by Reporter • 3 Aug 2018
Brokers, bank staff and anyone who directly interacts with and offers or recommends a home loan to a borrower should be... READ MORE
Remove trail, says final Productivity Commission report
by Reporter • 3 Aug 2018
Trail commissions should no longer form part of a broker’s remuneration structure, the Productivity Commission has... READ MORE
Treasurer slams major banks for ‘subsuming’ broker industry
by Reporter • 3 Aug 2018
Treasurer Scott Morrison will deliver a speech today in which he will chastise the big four banks for having... READ MORE
NSW government suggests banning trail commission
by Reporter • 3 Aug 2018
Prohibiting the payment of trailing commission could ensure that it no longer contributes to “consumer detriment with... READ MORE
ASIC calls on industry to submit business metrics
by Reporter • 3 Aug 2018
The financial services regulator is calling on all regulated organisations to submit their business metrics via a new... READ MORE
Brokers ‘shocked’ and ‘surprised’ by level of credit scrutiny
by Reporter • 3 Aug 2018
Brokers are “concerned” by increasingly stringent serviceability and lending policies, a leading broker has said,... READ MORE
Victorians continue to lead variable rate mortgage drive
by Reporter • 2 Aug 2018
Mortgagors in Victoria are continuing to drive demand for variable rate home loans, while Western Australians are... READ MORE
Changing demographics to alter dwelling demand
by Reporter • 2 Aug 2018
As Generation Y begins to enter the housing market, there could be a change in the types of dwellings sought after, a... READ MORE
‘Political scrutiny’ delaying big bank rate hike
by Reporter • 1 Aug 2018
Australia’s major banks have traditionally been the first to respond to higher funding costs by hiking interest rate;... READ MORE
Broker and borrower needs ‘changing rapidly’, says bank head
by Reporter • 1 Aug 2018
The needs of brokers, bank customers and the broader community are “changing rapidly” as technology develops and... READ MORE
Short-term funder hires new relationship manager
by Reporter • 31 Jul 2018
A non-bank lender has appointed a new national relationship manager to help facilitate the growing demand for... READ MORE
Trail book buyer requires brokers to provide ongoing service
by Reporter • 31 Jul 2018
Effective immediately, Trail Homes will require brokers that are selling their trail books to provide ongoing service... READ MORE
Vertical integration not a worry for Treasury
by Tas Bindi • 31 Jul 2018
The Australian Department of Treasury has told the financial services royal commission that there is a lack of evidence... READ MORE
Tighter serviceability long overdue, says broker
by Reporter • 30 Jul 2018
A Perth-based mortgage broker has welcomed tighter serviceability requirements, noting that such questions should have... READ MORE
Borrowers wouldn’t use brokers who charge clawbacks: Survey
by Tas Bindi • 30 Jul 2018
Nearly 80 per cent of mortgagors would be put off using a broker that charged a clawback fee, with just as many not... READ MORE
Brokerage completes management buyout
by Reporter • 30 Jul 2018
A South Australia-based mortgage brokerage has re-branded after its management assumed a controlling stake in the... READ MORE
Best interests duty needs ‘careful consideration’: Treasury
by Reporter • 30 Jul 2018
Treasury has said that while there may be an “in-principle case” for introducing a duty for brokers to act in the... READ MORE
Westpac to fast-track remuneration reform ahead of RC report
by Tas Bindi • 30 Jul 2018
The major bank has pledged to fast-track the process of implementing recommendations from the Sedgwick review published... READ MORE
Bank withdraws 2 BDMs due to ‘soft market conditions’
by Reporter • 27 Jul 2018
A non-major lender has announced that it will be withdrawing business development managers from two states, citing... READ MORE
Treasury releases its thoughts on broker remuneration
by Reporter • 27 Jul 2018
Treasury — in its most comprehensive outline of its thoughts on broker remuneration since ASIC’s remuneration... READ MORE
Response on broker remuneration could be delayed until 2019
by Reporter • 27 Jul 2018
The head of the FBAA has suggested that the government response to ASIC’s 2017 review of broker remuneration could be... READ MORE
Bankwest launches auto-valuation functionality for brokers
by Tas Bindi • 27 Jul 2018
The lender has announced the addition of a new functionality that will allow brokers to request upfront auto-valuations... READ MORE
Macquarie expands mortgage book by $1.6bn
by Reporter • 26 Jul 2018
The group’s retail banking division has reported a quarterly rise of 5 per cent in its mortgage portfolio, with... READ MORE
Former Westpac banker permanently banned for mortgage fraud
by Reporter • 26 Jul 2018
ASIC has permanently banned a former Westpac banker from engaging in credit activities, after finding that he had... READ MORE
Brokers v branches: The competitive utility of the broker channel
by Reporter • 26 Jul 2018
ANALYSIS: Mortgage brokers are challenging the oligopoly in the banking sector, giving smaller lenders with little or... READ MORE
Industry falling behind on measuring customer sentiment
by Reporter • 26 Jul 2018
Just a fifth of Australian financial services businesses are measuring customer sentiment on social media, according... READ MORE
Businesses urged to ‘embrace’ Gen Z values to survive
by Reporter • 26 Jul 2018
The financial services industry should be cognisant of Generation Z’s shifting values and place a greater emphasis on... READ MORE
Ensurance to sell brokerage to former directors
by Reporter • 25 Jul 2018
The insurance company has entered into a multimillion-dollar share sale agreement that will see it dispose of all its... READ MORE
House prices to fall by 15% by 2020
by Tas Bindi • 25 Jul 2018
House prices in Australia will continue their downward trend for at least another two years, economists surveyed by... READ MORE
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