Comparison site (29 items)

eChoice enters voluntary administration

Online mortgage introducer eChoice announced yesterday that its operations have been placed in the hands of voluntary administrators after a secured creditor said it could "no longer continue to support the group in its current form". read more

Non-banks drawn to APRA macroprudential web

Pepper, Liberty, La Trobe, FirstMac, Resimac, AFG Home Loans, RedZed - the whole spread of non-banks –  are all APRA regulated now, at least when it comes to macroprudential policy and the use of more handbrakes on questionable residential lending.One vital, if final, detail in a long list of measures set out by the Australian Prudential Regulation Authority on Friday is directed at making a gutsy and vibrant non-bank mortgage funding sector conform to restraints equivalent to those imposed on authorised deposit-taking institutions.ADIs funding "warehouses" (licks of wholesale lending to non-banks to sustain new business) must "ensure that the lenders' mortgage lending standards are consistent with industry-wide sound practices," APRA decreed on Friday. read more

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