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MFAA gutted as Swan chops support of mortgage-backed securities

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Australian Broker | 10 Apr 2013, 08:00 AM Agree 0
The government is set to axe its support of mortgage-backed securities, much to the MFAA's disappointment
  • Country Broker | 10 Apr 2013, 10:21 AM Agree 0
    What is more important here is what policy does the opposition have on supporting the mortgage - backed securities market .
  • Mike Clarke | 10 Apr 2013, 10:26 AM Agree 0
    Naylor is right - no argument here. A suitable funding model needs to be in place on a permanent basis to ensure market competition remains robust.
  • Xavier | 10 Apr 2013, 10:46 AM Agree 0
    It's really time to get Labor out.. Swan does not seem to care much about the industry past making feel good statements about how they managed the GFC and 'saved' the banking industry.. which in Australia was never broken or in Jeopardy
  • Chris C | 10 Apr 2013, 11:17 AM Agree 0
    Good to see the Govt step away from controlling the industry. The 4 pillars is good but they have still allowed the majors to take over some bank and non bank lenders eg Aussie Home Loans, Rams, U Bank, Home loans, St George and Bank West etc so begs the question "is the 4 Pillars policy working anyway" ?
  • ssmith3104 | 10 Apr 2013, 11:17 AM Agree 0
    Maybe a better way of giving support to this enterprise would be to make available, AT A PRICE, government guarantees of the paper (subject to prudential criteria inc. mortgage insurance). That would give such paper AAA status and make for cheapest funding costs, and therefore a very competitive alternative to bank home loans, at virtually no taxpayer cost or risk.
  • Wayne | 10 Apr 2013, 05:15 PM Agree 0
    Well said Country broker. With statements made by the oppostion about the Govt's approach to the GFC begs the question of where we would have been under a party that never had to face the question posed by the GFC and how to handle it. 2007 was a good election for them to lose, because for those with half a brain it was clear to see that the storm clouds were looming. Criticism is fine, but what would they have done and what would they do now.
  • SIDBROKER | 10 Apr 2013, 05:54 PM Agree 0
    WOW Mr. Swan here we go again. We are now in debt to you for 300 billion and its no wonder you don`t want to stick you neck out any further in case you look more and more like a GOOSE. Bring on Sept. 14.
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