ING Direct has launched its second mortgage-backed securitisation of the year, seeking A$500 million of funding. One of the interesting features of IDOL Trust Series 2013-2 is that the issuer has changed its approach to lenders' mortgage insurance coverage. In previous transactions all loans in the portfolio benefited from LMI but in this case only loans with a loan-to-valuation ratio above 75 per cent, as well as loans with LMI cover from origination, will benefit from LMI. A former Mudgee, New South Wales, mortgage broker has been banned, after it was found he had falsified loan application documents. The Australian Securities and Investments Commission has permanently banned Edward George, formerly of Quest Home Loans, from providing financial services. George falsified employment letters, payslips and loan approval letters.