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Mortgage manager slashes risk fee on alt doc loan to 0.5%

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Australian Broker | 31 Jul 2013, 07:00 AM Agree 0
One mortgage manager has reduced its risk fee and claims brokers 'wouldn't be providing a full service' if they don't consider alt doc loans for clients
  • Denise Brailey BFCSA (Inc) | 31 Jul 2013, 01:33 PM Agree 0
    Brokers have to do more work to release banks from liability. That is the whole point. brokers should get independent legal advice as to whether they will be prosecuted for service calculator use. Our members are on the side of the Brokers, not the Lenders, so this is friendly advice. Beware of banks/lenders offering "ABN's for a day" and "No GST." ASIC will target you, not the lender.
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