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

Fitch Assigns Expected Ratings to Firstmac Mortgage Funding Trust No.4 Series 1-2020 (Investing.com)

Fitch Ratings has assigned expected ratings to Firstmac Mortgage Funding Trust No.4 Series 1-2020's mortgage-backed pass-through floating-rate notes. The issuance consists of notes backed by a pool of first-ranking Australian residential full-documentation mortgages originated by Firstmac nominee originators.

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