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ME Bank CEO stands by redraw decision

The bank’s move to reduce the amount borrowers could redraw was “absolutely” the right decision, CEO Jamie McPhee has told a parliamentary committee.

Non-conforming mortgage arrears bounce

Delinquencies underlying non-conforming home loans have risen by 42 bps, while prime mortgage arrears have remained stable ahead of an expec...

CCI failings to cost lenders $160m

ASIC has facilitated over $160 million in remediation payments to more than 430,000 customers who have been sold “junk" consumer credit in...

New lender to enter the mortgage space

Two ex-Westpac group executives have teamed up to create a new digital home loan provider, successfully closing a $33-million capital raise.

COVID-19 to cost CBA an extra $1.5bn

The major bank has earmarked an extra $1.5 billion for forward-looking adjustments in relation to COVID-19, bringing the total provisions to...

Auction ban lifted in Victoria

The Victorian state government has reintroduced on-site auctions and open inspections as COVID-19 restrictions ease across the country.

NSW, Victoria open door to stamp duty reform

State governments have revealed that stamp duty reform is being considered as part of a broader agenda to restructure state economies off the back of the COVID-19 crisis.

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LATEST PODCAST: Brokers continue to step up for clients

Do you expect COVID-19 to reduce or increase your business flows?

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