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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27 Mar 2020

Firstmac reopens securitisation markets (Kanga News)

Firstmac reopened the Australian securitisation market at the end of the final full week in March, with a A$1 billion (US$611.5 million) residential mortgage-backed securities deal supported by the Australian Office of Financial Management's structured finance support fund.

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