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Major bank market share surges

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Australian Broker | 16 Mar 2016, 08:00 AM Agree 0
Australia’s biggest home loan lender has seen a further surge in mortgage settlements in 2016
  • SEQ Broker | 16 Mar 2016, 09:45 AM Agree 0
    Sorry for being a cynic. Is it true that CBA does not look very hard at discretionary expenses?
    Ergo brokers are taking the less risky option which is why CBA has improved its numbers from us.

    Even when you eagle eye the transactions on statements, we as brokers do not know what is included in HEM, and it seems it changes by lender. So who wants to take the risk of using a smaller lender with a more appropriate loan for the borrowers needs when you may not be able to borrow the funds required because the assessor decided that the phone bill was a touch larger than expected and now not in the HEM. Strike credit file with inquiry, strike broker with image of incompetence then go to a bank that the regulators would not take to court in a million years over their interpretation of the NCCP and APRA legislation.

    What we are seeing is the big 4 now cashing in on the regulations because of their seeming immunity to regulation / regulators. Please - correct me if I am wrong.
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