Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Lender collapses, leaving investors at risk

Notify me of new replies via email
Australian Broker | 29 Oct 2012, 04:30 AM Agree 0
Investors have been left with millions at risk after the shock collapse of a major financial services company
  • SDS | 26 Oct 2012, 12:00 PM Agree 0
    I just hope that fear does not now provoke the public to cause a run on LaTrobe and other mortgage trust operators.

    Some of those are only now returning capital after shutting down during the GFC.
  • Pfft | 27 Oct 2012, 05:02 PM Agree 0
    These guys wrote too many dodgy low doc loans.
    Their loan book is over 10% 90 days plus in arrears. You only get a book like that when you prey on borrows that cannot afford their loans.

    Good bye. Wish ASIC would take a closer look at the past applications and the brokers / lenders who wrote them. See how they ended up with so many in arrears...
  • Country Broker | 29 Oct 2012, 10:57 AM Agree 0
    HMMM a lot of speculation here . There were a god lender with a stromg balalnce sheet , as to Lo doc loans I couls NEVER getthem to look closley at them .

    More to the point they werer good solid country lenders who operated on lower LVR'S and had a really good book of dairy farms and irrigated farms , over the last few years they started to lend more and more in Melbourne on commercial property and smaller developments and also into other areas , lost their basic area of operation and expertise that held them in good sted for so long .
  • Positive Broker | 30 Oct 2012, 10:25 AM Agree 0
    You hit the nail on the head country broker. Move out of your area of expertise at your peril!
Post a reply