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Borrowing criteria stricter, but APRA set to keep an eye on lenders

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Australian Broker | 22 Mar 2016, 07:00 AM Agree 0
APRA will continue to monitor Australian lenders, despite claiming mortgage serviceability requirements have become stricter and more consistent
  • Reality | 22 Mar 2016, 10:45 AM Agree 0
    APRA, more than anyone else, have little idea about the financial industry & market. At least ASIC have made genuine attempts to find out how the industry works, before making changes.

    We're servicing well above the 10 year interest average, & have been for much longer than APRA state (In fact some mortgage are being serviced at double the actual rate).

    They grab a few hypothetical mortgages? Don't have any professional data? If you're going to regulate an industry, you need to at least understand how that industry works & relates to other industries etc; before you go changing rules at a whim.
  • Denise L Brailey | 03 May 2016, 05:26 PM Agree 0
    APRA needs to understand how the mechanics of the process work. Each person is doing their small components of a much bigger picture starting at the CEO level of the banking sector. They should read the LF Economics Report into white collar crime # 63. Quite an eye opener on the banking fraternity.
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