Articles

James Mitchell| The Adviser| 5 January 2018 https://www.theadviser.com.au/breaking-news/37252-major-bank-changes-broker-commission-model A big four bank has advised mortgage brokers that its upfront commission structure will change from next month. In a note to brokers obtained by The Adviser, ANZ’s general manager of broker distribution, Simone Tilley, explained that the bank has recently completed a comprehensive review of its […]

Jonathan Shapiro| Australian Financial Review|18 December 2017 http://www.afr.com/business/banking-and-finance/blackstones-play-for-la-trobe-wont-be-the-last-nonbank-deal-20171218-h06huy Australia’s $1.7 trillion mortgage market has become a hotspot for global private equity titans with more buyout funds tipped to follow Blackstone and KKR’s recent forays into the shadow banking sector. On Monday, New York-based Blackstone announced it had taken an 80 per cent stake in Melbourne-based lender […]

Miklos Bolza| Australian Broker| 14 December 2017 https://www.brokernews.com.au/news/breaking-news/major-bank-unveils-new-accreditation-standards-244893.aspx Commonwealth Bank of Australia (CBA) has unveiled a new broker model which includes stricter accreditation standards that aim to promote greater broker knowledge and positive consumer outcomes. From 2018, new mortgage brokers will be required to meet enhanced education requirements in order to write CBA loans. The […]

MFAA| 19 November 2017 https://www.mfaa.com.au/news/broker-market-share-rises-to-a-record-55.7-percent-in-september-quarter Australian finance brokers settled 55.7% of all residential mortgages during the September 2017 quarter, up from 53.6% in the same quarter last year, the latest industry data reveals. Mortgage and Finance Association of Australia (MFAA) CEO Mike Felton said this represented a record $51.77 billion worth of residential home loans […]

James Malbon| The Conversation| 3 November 2017 https://theconversation.com/forcing-the-banks-to-hand-over-our-credit-history-might-help-with-a-home-loan-but-it-has-risks-86757 The federal government will be forcing banks to hand over half their credit data ready for reporting by mid-2018 (with the remainder available in 2019). It seems rather quaint in the age of big data that the big four banks have been able to hold onto their […]

Annie Kane| The Adviser| 25 October 2017 https://www.theadviser.com.au/breaking-news/36930-consumers-don-t-want-to-pay-fees-to-brokers-says-banking-head Suncorp Bank’s CEO of banking and wealth has said that he does not believe that customers would want to pay fees to get mortgage broking advice, adding that he thinks broker commissions will therefore just be “tidied up at the edges”. David Carter, chief executive officer for […]