• February 28, 2020

Year: 2012

ANZ sells off Origin mortgage business

Eric Johnston | SMH | September 21, 2012 http://www.smh.com.au/business/anz-sells-off-origin-mortgage-business-20120921-26b80.html ANZ has offloaded its wholesale mortgage distribution business, Origin Mortgage Management Services to Sydney-based mortgage funding business Columbus Capital. The sale, for an undisclosed amount, comes…

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Lenders operating fast and loose on exit fees, says ASIC

Anthony Klan | The Australian | September 19, 2012 http://www.theaustralian.com.au/business/lenders-operating-fast-and-loose-on-exit-fees-says-asic/story-e6frg8zx-1226476873973 A study by the corporate regulator has uncovered wide-spread problems in how lenders charge mortgage “break-fees”, suggesting many borrowers are being overcharged when they refinance.…

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Upmarket homes face spring sale woes

Gretchen Friemann | AFR | August 27, 2012 http://www.afr.com/p/business/property/upmarket_homes_face_spring_sale_tOwR7s9gEMyfLweKJpI5dL House prices in some of the nation’s wealthiest suburbs are likely to decline throughout the crucial spring selling season as concerns at faltering economic growth keep…

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ATO targets banks, receivers over ‘missing billions’

Richard Gluyas | The Australian | August 21, 2012 http://www.theaustralian.com.au/business/ato-targets-banks-receivers-over-missing-billions/story-e6frg8zx-1226454461928 A $9.9 MILLION property sale has triggered an Australian Tax Office probe targeting the banking and insolvency industries over what some claim is billions of…

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Borrowers beat path away from big banks

Tim Colebatch | SMH | August 9, 2012 http://www.smh.com.au/money/borrowing/borrowers-beat-path-away-from-big-banks-20120809-23vgj.html Australian borrowers are dumping their banks to get a better interest rate. A record 35 per cent of all housing loans written in 2011-12 saw borrowers…

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More seniors opting for reverse mortgages

AAP | NineMSN | July 24, 2012 http://news.ninemsn.com.au/national/8504261/more-seniors-opting-for-reverse-mortgages The deterioration of superannuation accounts as a result of the global financial crisis has prompted a growing number of seniors to use the equity in their home…

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RHG to hand back $3m in fees

Anthony Klan | The Australian | July 20, 2012 http://www.theaustralian.com.au/business/property/rhg-to-hand-back-3m-in-fees/story-fn9656lz-1226430382224 The Australian Securities & Investments Commission has forced lender RHG Mortgage Corporation, formerly RAMS, to refund more than $3.3 million it overcharged borrowers in discharge…

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Mortgage stress strikes a third of all home loans

Patrick Commins and Chris Vedelago | The Age | July 15, 2012 http://www.theage.com.au/victoria/mortgage-stress-strikes-a-third-of-all-home-loans-20120714-2236l.html Three in every 10 households with a home loan are suffering mortgage stress. Figures provided by the Bureau of Statistics to The…

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Mortgage rate cuts not moving borrowers

Anthony Keane | Herald Sun | June 27, 2012 http://www.news.com.au/money/interest-rates/mortgage-rate-cuts-not-moving-borrowers/story-e6frfmn0-1226409761997 Interest rate cuts are having a much weaker effect on home-loan borrowing than they used to, bank executives warn. The Reserve Bank’s cuts of 75…

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Fees fall for households, businesses bear the brunt

Clancy Yeates | SMH | June 22, 2012 http://www.smh.com.au/money/borrowing/fees-fall-for-households-businesses-bear-the-brunt-20120622-20rws.html Households have spent less on bank fees for the second year in a row, after Canberra’s ban on exit fees helped slice $157 million from banks’…

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