Aussie faces court over junk insurance claim 13 March 2024 4:37AM Latest news John Kavanagh Shine Lawyers has filed a class action in the Federal Court alleging that Aussie Home Loans sold junk insurance to up to 30,000 customers. read more
Deposit gap funder in administration 07 March 2024 5:51AM Latest news John Kavanagh A start-up promising to help home buyers bridge the deposit gap has gone into administration, just months after launching its loan. read more
Non-bank competitive position improving, Pepper says 01 March 2024 5:27AM Latest news John Kavanagh Pepper Money suffered record mortgage book attrition in 2023, at 43.8 per cent, as the intense competitive in the market exposed its relatively high funding costs. read more
Liberty wanders in tough times 27 February 2024 5:31AM Latest news Ian Rogers A continuing shift in business mix to higher margin lending product, combined with less residential lending punched a deep hole in the profit of Liberty Financial over the December half. read more
Strong demand reduces non-bank securitisation cost 19 February 2024 4:01AM Latest news John Kavanagh The pricing of non-bank issues of residential mortgage-backed securities has tightened since the start of the year, as strong demand for locally issued RMBS and ABS continues. read more
Mortgage Choice not firing for REA 09 February 2024 5:00AM Latest news John Kavanagh REA Group is struggling to make headway in financial services, a business it has targeted for growth since it acquired broker franchise group Mortgage Choice in 2021. read more
Non-bank business lenders remain positive as business conditions deteriorate 14 December 2023 4:26AM Latest news John Kavanagh Non-bank business lenders are finishing the year strongly, with a number of recent capital raising initiatives by lenders operating through managed investment schemes and a recovery in the securitisat.. read more
Briefs: Up launches money management tool, AFG prepares for broker consolidation 06 December 2023 5:21AM Latest news Banking Day staff Bendigo and Adelaide Bank’s youth-focused digital brand Up has launched a money management tool promising to help consumers get their finances under control by automating bill payments and savings pla.. read more
Consumer awareness of home loan alternatives low 24 November 2023 5:39AM Latest news John Kavanagh Home loan borrowers and people saving for a deposit are largely unaware of the growing range of alternative home ownership strategies, a new report reveals. read more
RMBS market on an even keel 06 November 2023 5:42AM Latest news John Kavanagh The pricing of prime non-bank mortgage-backed securities remains steady, as strong demand for Australian RMBS has underpinned healthy issuance this year. read more
Buoyant securitisation market supports non-bank diversification 30 October 2023 5:31AM Latest news John Kavanagh Securitisation transactions over the past month show there is plenty of investor support for the shift in focus among non-bank lenders to areas such as non-prime mortgage lending, asset finance and pr.. read more
Briefs: YBR shareholders back delisting, Westpac director to stand down 25 October 2023 5:41AM Latest news Banking Day staff Yellow Brick Road shareholders backed a resolution at an extraordinary general meeting yesterday to remove the company from the ASX official list. read more
Wisr chair follows CEO out the door 18 October 2023 5:13AM Latest news John Kavanagh The chair of consumer lender Wisr, John Nantes, is stepping down from the board to spare the company any reputational damage in relation to criminal charges brought against the former chief executive.. read more
Briefs: YBR calls shareholder meeting, Credit Corp director retires 26 September 2023 4:55AM Latest news Banking Day staff Yellow Brick Road has set the date when shareholders will vote on a proposal to delist the company from the ASX. read more
Thorn to be swallowed up by major shareholder 22 September 2023 5:59AM Latest news John Kavanagh The directors of finance company Thorn Group have thrown in the towel, agreeing to sell what is left of the struggling company to major shareholder Somers Ltd. read more
YBR outlines buyback and share purchase plan ahead of delisting 19 September 2023 5:09AM Latest news John Kavanagh In the lead-up to its removal from the official list of the Australian Securities Exchange in November, Yellow Brick Road plans to buy back unmarketable parcels and offer a share purchase plan for sha.. read more
YBR limps off the ASX 15 September 2023 5:07AM Latest news John Kavanagh Mortgage company Yellow Brick Road went into a trading halt yesterday, flagging an announcement that it will apply to delist from the Australian Securities Exchange. read more
Pepper buys HSBC's NZ mortgage book 04 September 2023 4:24AM Latest news John Kavanagh Pepper Money continues to look for diversification opportunities to offset difficult conditions in the Australian mortgage market, announcing on Friday that it will buy HSBC Bank’s New Zealand mortgag.. read more
Prospa's SME bad debts double 31 August 2023 6:14AM Latest news John Kavanagh Lender Prospa Group wrote off close to 10 per cent of the value of its loan book as bad debts in the year to June, as tougher economic conditions impacted its small business customers. read more
Resimac bruised by mortgage shrinkage 30 August 2023 6:10AM Latest news Ian Rogers A shrinking mortgage book, docile new business volumes and higher expenses smashed the earnings of non-bank lender Resimac over the last year. read more