Bushfires won’t impact covered bonds and mortgage backed ratings (Money Management)

The Australian bushfires will have no impact on the ratings of covered bonds and residential mortgage-backed securities (RMBS) as they remain in remote or regional areas with low population levels, according to Fitch Ratings. Fitch said the mortgage portfolios of covered bonds and RMBS were concentrated in densely populated areas, while the bushfires had mostly impacted less-densely populated areas.

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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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