Brokers risk being cut off if they have not completed their mortgage broking diploma. Recent legislative changes mean brokers will be required to have completed the new Diploma of Finance and Mortgage Broking Management course,…
This week, a number of finance regulators said they were turning their mind to enforcing robust lending standards. Straight after, CBA announced it was adopting a more conservative stance in its lending policy. Accredited Broker…
James Frost and John Kehoe| Australian Financial Review| 17 June 2021 https://www.afr.com/companies/financial-services/apra-asks-banks-for-more-data-on-lending-20210617-p581rf The peak group of financial regulators have eyeballed the pick-up in home lending and the return of property investors as an emerging issue,…
Shane Wright & Clancy Yeates| Sydney Morning Herald| 19 June 2021 https://www.smh.com.au/politics/federal/banking-regulators-poised-to-tighten-lending-standards-to-cool-market-20210618-p5823u.html The Reserve Bank and the nation’s prudential regulator are poised to tighten lending standards in the face of soaring property prices and growing…
Paul Ryan| Real Estate Insights| 31 March 2021 Why Regulators are Flying Blind When it Comes to Lending Risks (realestate.com.au) The decision on whether to intervene in a red hot housing market lies with our…
‘Be careful what you wish for’ goes the old adage. Nowhere is the more true than in proposed changes to Stamp Duty which may have huge impacts on the way the property market operates. Changes…
https://www.moneymanagement.com.au/features/expert-analysis/new-shape-best-interests-duty Industry Expert| Money Management\ 24 July 2020 Since 2009, credit licensees and their representatives have grappled with responsible lending obligations. Following the passage of legislation in response to recommendations of the Royal Commission, mortgage…
New Rules Mean Brokers Have to Work in Client’s Best Interest ASIC has confirmed brokers will be obliged to act in the best interests of borrowers by 2021. Under the new rules, mortgage brokers will…
John Kehoe, Matthew Cranston & Jonathan Shapiro| Australian Financial Review| 16 March 2020 https://www.afr.com/policy/economy/regulators-ease-coronavirus-credit-squeeze-20200316-p54aeb Financial regulators are extending short-term liquidity funding to banks and are considering easing regulations on lenders to help prevent a credit…
Madison Utley| Australian Broker| 15 October 2019 https://www.brokernews.com.au/news/breaking-news/first-home-buyer-scheme-advances-to-next-step-267272.aspx The Senate has passed the legislation that will move the First Home Loan Deposit Scheme closer to becoming a reality. The passage of the bill, originally introduced…
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