GMAC records big quarterly loss
US-based mortgage lender GMAC Financial Services has recorded a pre-tax loss of US$2bn (A$2.38bn) in its mortgage business in the second quarter of 2009.
RBA leaves cash rate unchanged
For the fourth consecutive month the RBA has left the headline cash rate at 3%.
Westpac follows NAB on bank fees
In a move rivalling NAB's cuts to bank fees, Westpac has announced it will be slashing exception fees across credit cards, personal accounts and business accounts.
finconnect boss slams fast-track planner courses
Tanya Sale, general manager of aggregator finconnect, has slammed training providers that offer quick-fire financial planning conversion courses for brokers
ALCo hooks customers with website
National mortgage and finance aggregator Australian Loan Company is using its new website to lure potential customers to its network of advisors.
Cert. IV minimum requirement: ASIC
Mortgage brokers will be required to have at least a Certificate IV education and be able to demonstrate two years of relevant experience, under ASIC's policy proposal.