Following an individual complaint, the bank has reported the issue to ASIC and refunded over 1,000 customers with mortgage offset accounts
One legal expert has said brokers are bullying lawyers into providing obsolete paper documents on behalf of the banks
In a dual appointment, the online loan marketplace has also welcomed a major financial media commentator to its advisory board
One leading financial analyst has predicted a number of targeted rate cuts by the banks after a build-up of capital by most lenders
The number of Aussie borrowers blacklisted by credit reporting bodies will increase exponentially after Friday, says a national finance company.
Lenders continue to beat the diversification drum, claiming brokers must become full suite advisers giving debt, planning, wealth and insurance advice to keep up with the market.
A leading lender has added close to $500 million of loans to its non-conforming portfolio last year.
Australia’s lenders are still competing aggressively on fixed rate home loan interest prices, which may prompt more borrowers to fix their loan over coming months.
One building society aims to double its team and expand business within the calendar year, according to its strategy head.
Industry leaders got together to discuss the woes of the mortgage broking world. Find out what the biggest problem is.