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Pepper wins Mobius servicing contract: 25 July 2008 6:49am

Non-conforming lender Pepper Home Loans has moved into the third party servicing business, winning a contract from Allco Finance Group to take over the specialist servicing of its mortgage business Mobius. » read more »

The crunch: month 11: 10 July 2008 6:57am

Finished: Rams, Mobius. Finished in name: Maxis. Hibernating: all but a few banks and non-bank lenders, unless already out of business, or named CBA. » read more »

Time up for Bill Express: 09 July 2008 6:49am

Bill Express finally hit the wall yesterday, bringing to an end an effort to cobble together a range of niche payments services into a coherent business model. » read more »

GMAC and Seiza cease lending: 19 June 2008 6:57am

It’s hibernation for two more late entrants to the mortgage market in Australia, with one conducting a “strategic review” and the second aiming to wait out the deep freeze in the debt capital market for funders. » read more »

Mobius gives notice: 14 May 2008 6:57am

Allco Finance Group’s mortgage servicing company Mobius gave notice yesterday that it was withdrawing as trust manager and master servicer of the NCM-03 and NCM-04 securitisation trusts. » read more »

The fall of a mortgage market dynamo: 17 March 2008 6:24am

A new analysis of the mortgage industry in Australia – undertaken jointly by The Sheet and InfoChoice.com.au – provides a fresh look at the market share of home loan providers in Australia. This is no trivial exercise. One of the frustrations of followers of banking in Australia is the defect in industry data on market share. No matter how often banks and analysts cite data on market share the basis for doing so is often quite hazy and, at the level of detail at which careful observers want to follow the data, not nearly accurate enough. » read more »

HSBC back in the mortgage game: 12 March 2008 6:42am

Tightening liquidity in the global credit market has been bad news for mortgage originators such as Allco’s Mobius and Macquarie Securitisation, which have both announced their intention to withdraw from or scale back their involvement in the mortgage market because of their inability to raise funds at a price that would allow them to make a profit. » read more »

Mortgage managers sanguine over Macquarie exit: 06 March 2008 7:11am

Mortgage managers and originators say they are taking the news of Macquarie Bank’s decision to quit the mortgage market in their stride, insisting they had multiple funding sources and could replace the Macquarie funding without feeling any impact on their businesses. » read more »

Allco wholesale finance, wholesale disaster: 26 February 2008 6:57am

The full extent of Allco Finance Group’s problems in its financial service businesses was made clear yesterday, as the company gave a business update on the December half. » read more »

Losses likely on Mobius trusts: 21 December 2007 5:33am

Investors in the equity tranches of two of the mortgage securitisation trusts managed by Allco Finance Group may be facing losses. » read more »

Save Finance calls for the doctor: 14 December 2007 6:35am

Tighter conditions in the non-conforming mortgage market have proved too much for Sydney mortgage originator Save Finance. On Tuesday the company went into voluntary administration, appointing Freshwater Management to take charge of its affairs. » read more »

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