All posts tagged "Home Loans"
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245Australia & 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 -
390Australia & 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 -
549Australia & NZWestpac 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 -
359Australia & 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 -
387Australia & 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 -
581Australia & 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 -
329Australia & NZRoyal Commission Exposes Multiple Lending Practice Failures at Big Four
Public inquiry’s first round of hearings reveals multiple failures at ‘big four’ banks to lend in customers' best interests.
March 29, 2018
