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Mortgage managers up against white labels

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Australian Broker | 31 May 2011, 06:00 AM Agree 0
Mortgage managers are struggling due to funding pressures and competition from bank-funded aggregator white label products, according to National Mortgage Brokers' Gerald Foley
  • Mortgage Manager | 31 May 2011, 11:55 AM Agree 0
    Bit late Mr. Foley, by around 3 years.

    FACT: Mortgage brokers used the GFC and the scare-factor to refinance anyone they could back to the 4 majors..... now they are crying about the control the 4 have.

    Suggestion: You made it, sleep in it!
  • Chris | 31 May 2011, 12:06 PM Agree 0
    Good ole Swanny - DEFs ban was to create more competition between Funders to allow the consumer cheaper loans and ease of transferring. As we see, Banks don't lose money - they may increase or introduce application fees and extend clawbacks from Brokers and it is forcing the non Bank lenders out of the market which we said from the beginning. So Swanny - it has reduced competition, will no doubt attract more fees to consumer across the board rather than to the few consumers that create the DEF. Did your plan work ... NO ......... Did it buy more votes ...... that could have only been Swanny's plan from the start. Onya Swanny.
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