Canberra takes a bond ‘step change’ (The Australian)

The AOFM has started operating the $15bn Structured Finance Support Fund to help smaller lenders access funding during a period of market dislocation. Further detail on the fund provided on Tuesday evening said it was available to non-bank lenders and authorised deposit-taking institutions that did not have the collateral required to tap the RBA’s $90bn funding facility for banks. The AOFM will seek to invest in packages of loans — that are securitised — to assist smaller lenders while also considering making investments in warehouse facilities. On Friday, the AOFM started the operation of the structured fund, by investing $189m across six tranches of Firstmac’s $1bn mortgage bond.

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06 Dec 2019

Non-bank lender moves to 100% self-funding in 2010 (Australian Broker)

Non-bank lender Resimac has announced it will transition to exclusively selling loans financed by its own funding program in the new year.

Effective 1 January 2020, Resimac will discontinue its Resimac MoniPower and Resimac Accelerate products for new business, selling solely under the Resimac brand which will continue to be distributed by its broker network and white label products via mortgage managers.

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