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YBR share price steady despite acquisition

Yellow Brick Road’s share price remained steady yesterday following the group’s acquisition of mortgage manager RESI Mortgage Corporation.

YBR acquires Resi

Yellow Brick Road today announced that it has entered into a conditional agreement to acquire mortgage manager and originator RESI Mortgage Corporation Pty Ltd.

Regional banks struggle for market share

The regional banks remain at a structural disadvantage to the majors, despite the benefits from a recovery in housing finance, lower funding costs and improving loan quality.

RBA warns banks over mortgages

The Reserve Bank has warned Australian lenders they may need to hold additional capital against housing finance, driving up the cost of home loans.

Lender fined in Federal Court

The Federal Court has ordered GE Money to pay a penalty of $1.5 million for making false or misleading representations to more than 700,000 of its credit card customers.

CBA to review advice failures

CBA chief Ian Narev has announced an ‘open review program’ to investigate the advice failures at CBA dealer groups Commonwealth Financial Planning and Financial Wisdom.

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