• 21/09/2020

Category: Regulatory Changes

The new shape of best interests duty

The new shape of best interests duty

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…

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New Rules Mean Brokers Have to Work in Client’s Best Interest

New Rules Mean Brokers Have to Work in Client’s Best Interest

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…

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Regulators ease coronavirus credit squeeze

Regulators ease coronavirus credit squeeze

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…

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First home buyer scheme advances to next step

First home buyer scheme advances to next step

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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Four questions about mortgages the ACCC inquiry should put to the big four banks

Four questions about mortgages the ACCC inquiry should put to the big four banks

Mark Humphrey-Jenner| The Conversation| 14 October 2019 https://theconversation.com/four-questions-about-mortgages-the-accc-inquiry-should-put-to-the-big-four-banks-125224 The Australian Competition and Consumer Commission conducted an inquiry into mortgage pricing as recently as last year. Now Treasurer Josh Frydenberg has asked it to do another,…

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Big banks face new ACCC pricing probe

Phillip Coorey| Australian Financial Review| 14 October 2019 https://www.afr.com/politics/federal/big-banks-face-new-accc-pricing-probe-20191013-p5307r Treasurer Josh Frydenberg has charged the consumer watchdog with investigating the refusal of the banks to pass on in full the recent spate of interest rate…

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Credit curbs in sight as housing rebound accelerates

Credit curbs in sight as housing rebound accelerates

Charbel Kadib| Mortgage Business| 3 September 2019 https://www.mortgagebusiness.com.au/breaking-news/13765-credit-curbs-in-sight-as-housing-rebound-accelerates Regulators could consider a fresh round of macro-prudential measures to keep debt levels at bay, according to one analyst, amid the growing possibility of a “V-shaped” recovery…

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DTI lending caps touted as future credit curbs

Charbel Kadib| Mortgage Business| 20 September 2019 https://www.mortgagebusiness.com.au/breaking-news/13822-debt-to-income-lending-caps-touted-as-future-credit-curbs?utm_source=MortgageBusiness&utm_campaign=MBDaily%20bulletin20_09_19&utm_medium=email&utm_content=1 Regulators could move to set caps on loan volumes for borrowers with high debt-to-income ratios if the housing market recovery continues to accelerate, according to analysts. Over…

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New credit laws could see homeowners pocket extra $40,000

Anastasia Santorenos| Yahoo Finance| 18 September 2019 https://au.finance.yahoo.com/news/new-credit-laws-to-see-homeowners-pocket-extra-40000-015323644.html Australian homeowners could now save around $40,000 over the course of their mortgages under new credit reporting laws introduced by the federal government. The laws, which were…

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Credit curbs in sight as housing rebound accelerates

Charbel Kadib| Mortgage Business| 3 September 2019 https://www.mortgagebusiness.com.au/breaking-news/13765-credit-curbs-in-sight-as-housing-rebound-accelerates Regulators could consider a fresh round of macro-prudential measures to keep debt levels at bay, according to one analyst, amid the growing possibility of a “V-shaped” recovery…

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