Time ripe for comprehensive credit reporting: ABA
If the National Consumer Credit Protection Bill 2009 will include responsible lending obligations, then according to The Australian Bankers' Association (ABA) more comprehensive credit reporting must be put in place at the same time.
FAST, nMB add credit reports to toolbox
Brokers at aggregators FAST and National Mortgage Brokers (nMB) will be able to check the credit worthiness of their clients prior to submitting a mortgage application, after both signed agreements with credit bureau, Veda Advantage.
On Broker news TV this week
Melos Sulicich, CEO of RAMS
In an exclusive interview with brokernews the CEO of RAMS tells us the career path he followed to get to this new challenging position and discusses a number of additional topics such as how the mortgage industry has evolved, and what the government is doing to foster greater competition within the industry
Fixed rate home loans to rise
Sixty percent of new fixed rate home loans in Australia are expected to rise in the next week, according to comparison website, RateCity.
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%.