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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Firstmac assigned AAA ratings for RMBSNon-bank lender Firstmac has received AAA credit ratings for four classes of its prime residential mortgage-backed securities (RMBS).
Standard & Poor’s (S&P) assigned the ratings for Firstmac’s A-1a, A-1b, A-2 and AB classes of RMBS, which are issued by Firstmac Fiduciary Services as a trustee for Firstmac Mortgage Funding Trust No.4 Series 2-2015. - Mortgage Business- view article
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