All posts tagged "Home Loans"
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230Australia & NZACCC Mortgage Pricing Inquiry to Extend Beyond Mortgage Pricing
ACCC chairman Rod Sims reportedly told a parliamentary hearing that bundling products such as credit cards and insurance would form part of the agency’s inquiry.
October 24, 2019 -
189Australia & NZ
ACCC to Probe Banks on Mortgage Pricing Decision-making
The ACCC is commencing an inquiry to find out why banks are not fully passing on interest rate cuts to borrowers, and what prevents customers from switching to cheaper lenders.
October 15, 2019 -
268Australia & NZASIC to Appeal Westpac Responsible Lending Case Dismissal
ASIC says last month’s federal court’s ruling in favour of Westpac creates uncertainty as to what is required for a lender to comply with its loan assessment obligations.
September 11, 2019 -
302IndiaRBI Panel Offers Path to Develop Home Loan Securitisation Market
A new intermediary should be created to standardise the underlying mortgage loans, underwriting guidelines and loan servicing standards, the panel says.
September 10, 2019 -
355Australia & NZOver 35,000 Complaints Received in Six Months: AFCA
Over 60% of the complaints have been resolved, resulting in A$83mn in settlements. More than one-third of complaints were directed at banks.
July 17, 2019 -
502Australia & NZAPRA Relaxes Serviceability Assessment Standards for Mortgage Loans
Under APRA's new serviceability guidance, borrowers on a typical 4% mortgage rate can expect to be assessed at 6.25% rather than 7.25%, enabling them to immediately secure larger loans.
July 8, 2019 -
601Australia & NZ
Westpac Faces Class Action for Irresponsible Lending
Westpac has vowed to fight the claim, saying it takes its responsible lending obligations very seriously. But it could face a multi-million-dollar settlement if other borrowers join the class action.
February 26, 2019 -
417Australia & NZNew Zealand Banks Called Out for High Priority Amounts on Mortgages
By setting mortgage priority amounts almost three times the home loan principal, banks are preventing borrowers from shopping around for a second mortgage.
January 9, 2019 -
449Australia & NZASIC Permanently Bans Another Former NAB Branch Manager
The branch manager knowingly provided false or misleading information and documentation in loan applications and falsely attributed them to a relative for introducer commissions.
October 9, 2018 -
647Australia & NZ
Westpac Fined Record A$35mn for ‘Responsible Lending’ Breach
Westpac Bank’s automated credit assessment system approved 10,500 home loans between 2011 and 2015 which should not have been automatically approved; the system has since been upgraded.
September 6, 2018
