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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03 Jun 2020

Lender reports "sharp fall" in hardship applications (Australian Broker)

Non-bank lender Firstmac has reported the number of new applications received for COVID-19 related hardship arrangements has fallen faster than the group expected. According to Firstmac managing director Kim Cannon, a “full analysis” of the trusts in its $12.8bn loan book have shown the impact of the crisis is not accelerating in the way investors feared at the outset of the pandemic.

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