Making News this Week

CUA calls for mortgage capital rules to be fairer CUA, the nation’s biggest credit union, has singled out evening up mortgage capital rules as the key competitive issue for the Murray financial system ­inquiry to address, arguing the big four banks have too big an advantage. read more Adelaide mortgage broker Malcolm Royce Jones jailed for $170K theft An Adelaide mortgage broker who stole $170,000 from a client has been jailed for more than two years. Malcolm Royce Jones, 52, pleaded guilty...
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Australian Home Borrowers Vulnerable to Defaults

Interest rate hikes are increasingly likely to send Australian homeowners into default, Fitch Ratings has claimed. In an exposure draft review of the Australian RMBS sector, the ratings agency has claimed homeowners are now more vulnerable to interest rate hikes than during the recession of the 1990s, when interest rates were around 17%. Director of Fitch's Australian structured finance team David Carroll said this could be attributed to rising levels of indebtedness and higher house prices. He...
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