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Brokers concerned about regulatory meddling

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Australian Broker | 20 Nov 2014, 07:56 AM Agree 0
While brokers are confident in the health of the mortgage market, they fear new regulations could scuttle their businesses, an aggregator head has been claimed
  • observer | 20 Nov 2014, 09:11 AM Agree 0
    "If Glenn Stevens actually spoke words people could understand, they might actually be more confident and come out of their shells."

    Classic comment and pure gold, as well as being very accurate.
  • Russell Murphy | 20 Nov 2014, 09:25 AM Agree 0
    I agree with Mark Haron! Read amended RG209 and tell me when mortgage brokers became aligned with payday lenders.
  • Peter Heinrich | 20 Nov 2014, 11:17 AM Agree 0
    The really big worry is APRA who clearly have no idea how Mortgage Brokers operate. They operate from the songbook of urban myth and spin over reality. However, if they persist with their arguments that Broker loans are more risky than propriety loans the regulators start to listen (and act by more regulation). Somebody (anybody) in APRA needs to actually look and see that brokers only refer loans to lenders (not approve them) to modify their stupid and uneducated statements. The regulators have no idea, they just react to the people who should know better. Note the deafening silence of disapproval coming from the Banks. I am not sure any have spoken out to dispel the myths proposed by APRA?
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