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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16 Apr 2014

Firstmac leads the return to offshore RMBS

Brisbane-based non-bank lender Firstmac is one of the few to venture back to offshore RMBS markets. Last year it priced two RMBS transactions totalling $900 million, each with sterling-denominated tranches that totalled £177 million.

Firstmac said it has also bucked the national trend by increasing its monthly mortgage settlement volumes to levels last seen before the GFC. This has led it to seek greater volumes of RMBS funding by going offshore.- AB+F- view article