NSW cracks down on fire-sale laws
Coming to the rescue of defaulting homeowners, the NSW government has sprung a proposal for tighter fire-sale legislation.
$10bn book: Smartline, Mortgage Force to merge
A 220-strong franchise group with over 100,000 clients and a loan book of more than $10bn will be created when Smartline and Mortgage Force merge on 1 July.
Forsyth: Govn't should limit credit restrictions
As banks tighten lending credit criteria in an effort to safeguard themselves from risk, Firstfolio chief said the government needs to step in if it wants to see momentum return to the market.
MFAA president: Further cuts "inappropriate"
President of the MFAA, James Symond, has warned the banks that any further changes to commissions would be inappropriate and could kill off the industry.
Macquarie profits to fall 50%
Macquarie Bank, which began winding back its residential mortgage origination business in March last year, will see its profits fall by 50% due to massive write-downs.
Lynch: ABN Amro still strong
ABN Amro's head of reverse mortgages, Martin Lynch, says the lender remains strong despite the troubles plaguing its parent company the Royal Bank of Scotland (RBS).