CBA clears up processing backlog
Brokers have been urged to check the status of their CBA loans, after the lender hosted a 'Backlog Blitz' to process 3,121 files over the weekend.
BankWest cuts 400 jobs
BankWest has blamed the rapidly deteriorating economy for its decision to slash 400 staff from its workforce.
NSW cracks down on fire-sale laws
Coming to the rescue of defaulting homeowners, the NSW government has sprung a proposal for tighter fire-sale legislation.
$10bn book: Smartline, Mortgage Force to merge
A 220-strong franchise group with over 100,000 clients and a loan book of more than $10bn will be created when Smartline and Mortgage Force merge on 1 July.
Forsyth: Govn't should limit credit restrictions
As banks tighten lending credit criteria in an effort to safeguard themselves from risk, Firstfolio chief said the government needs to step in if it wants to see momentum return to the market.
Macquarie profits to fall 50%
Macquarie Bank, which began winding back its residential mortgage origination business in March last year, will see its profits fall by 50% due to massive write-downs.