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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30 Mar 2020

Further details of $15bn lending fund released (The Adviser)

Key aspects of the government’s new $15-billion Structured Finance Support Fund for smaller lenders, including its first investment, have been released.

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