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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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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