Non-banks in funds fight for bigger slice of mortgage market (The Australian)

Non-banks are stepping up efforts to get more access to cheaper funding by taking their push to Treasury, with the aim of better competing against the big banks on mortgage pricing.

During the COVID-19 turmoil the banks have had access to the Reserve Bank’s $200bn term funding facility, which smaller lenders say is tipping the scales too much in favour of the larger incumbents.

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Brokers integral to non-bank lender success

The CFO of a non-bank lender, which has priced the largest RMBS issue from a lender of its type, has said it is currently doing everything it can to expand its third-party channel, as brokers are “immensely important”.

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