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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29 Mar 2020

Firstmac CFO hails $1 billion 'miracle trade' (The Australian Financial Review)

James Austin, the chief financial officer of non-bank lender Firstmac, has hailed Friday's $1 billion mortgage bond sale as a "miracle trade" after the government's debt agency stepped in to support the transaction.

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