Remember the days when borrowers were eagle-eyed to rate changes on the first Tuesday of the month? Now, the interest rate world is very different. Two years ago, whenever the Reserve Bank met and changed rates, the banks pretty-much said they would pass them on immediately. Now, it seems to be almost every day that […]
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‘The heavy lifting has been done’ according to APRA and the banks’ lending practices are now on a sounder footing. · With many of APRA’s speed bumps now removed, does that mean that there will suddenly be a property boom? Unlikely · Will the banks continue to ask borrowers rigorous questions for a loan application? […]
[...]Vesna Poljak| Australian Financial Review| 17 July 2018 https://www.afr.com/markets/rba-on-close-and-careful-watch-of-household-debt-20180717-h12rvq The Reserve Bank of Australia has declared it will remain vigilant around high levels of household indebtedness, leading economists to conclude that the central bank needs to see convincing inflation and growth before considering raising interest rates in 2019. The Reserve Bank conducted a special discussion […]
[...]Charbel Kadib| The Adviser| 17 July 2018 https://www.theadviser.com.au/breaking-news/38009-bank-accreditation-changes-emphasise-broker-training Bankwest’s general manager of third party has said that the bank is putting “extra assets” into training of new-to-industry brokers as well as lifting its accreditation requirements. Speaking to The Adviser on Monday (16 July) after the CBA subsidiary announced changes to its broker accreditation requirements along with […]
[...]Clancy Yeates| Sydney Morning Herald| 11 July 2018 https://www.smh.com.au/business/banking-and-finance/home-loan-crackdown-heavy-lifting-has-been-done-by-banks-says-apra-20180711-p4zqsd.html Australia’s banks have largely completed a long-running campaign to bolster their mortgage lending standards, the financial regulator says, signalling it will not force banks to further slam the brakes on the home loan market. In a speech that played down fears of a credit crunch, Australian Prudential […]
[...]Clancy Yeates| Sydney Morning Herald| 16 July 2018 https://www.smh.com.au/business/banking-and-finance/banks-ramp-up-sharing-of-positive-data-on-customers-despite-concerns-20180713-p4zray.html Banks are on track to address a key “blind spot” in their lending assessments by early next year, as several of the country’s biggest lenders finally prepare to engage with a customer data-sharing regime. The country’s biggest credit bureau, Equifax, said it expected the majority of […]
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