Firstmac completes $1.3bn RMBS raising (Australian Broker)

Non-bank lender Firstmac Limited has announced its completion of a $1.3 billion RMBS raising, with over $2 billion in orders.

In a statement, Firstmac said that the issue was oversubscribed “from an early stage” and was supported by 31 institutions.

The roadshow for the RMBS issue was the first to be done entirely online, as COVID-19 travel restrictions made the usual face-to-face meetings throughout Europe, Asia, and the US impossible.

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02 Jul 2020

Fewer homeowners seeking mortgage relief as economy recovers (The Australian)

The number of mortgages on suspended repayments through COVID-19 hardship measures is declining, with some homeowners opting to begin paying down their debt earlier.

Non-bank lender Firstmac and the major banks have told The Australian that the number of customers asking to defer their mortgage repayments has cooled off in the past month, as economic conditions across the nation improve.

ABA chief executive Anna Bligh said banks were contacting customers who had accessed financial assistance to discuss further options after the initial suspension period.

“Encouragingly, banks are seeing that many deferred customers are choosing to resume making loan repayments,” Ms Bligh said.

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