Firstmac analysis shows the number of borrowers on hardship is falling (MPA Magazine)

The latest data from Firstmac’s $12.6b loan book shows that the number of Australians on COVID-19 hardship arrangements is steadily falling despite the second wave of lockdown in Victoria. MPA spoke with chief financial officer James Austin about how Victoria compares with other states and why the ACT is doing the best nationwide.

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28 Feb 2020

Funds cut risk, lift cash holdings (The Australian)

Firstmac chief financial officer James Austin said the residential mortgage backed securitisation market was showing “very little movement” in issuance prices.
RMBS are based on the performance of the underlying mortgages, so during the global financial crisis it was very much a credit event,” Mr Austin said. “In this case, the RMBS market will all be about how the Australian economy performs.

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