AOFM support comes for residential mortgage-backed securities liquidity squeeze (The Australian)

The Australian government has waded into the residential mortgage-backed securitisation market for the first time since the global financial crisis, giving $200m worth to support non-bank lender Firstmac sell the first package of home loans to investors after credit markets were frozen by the coronavirus crisis.

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16 Nov 2015

Non-bank lenders' funding costs on rise

James Austin, chief financial officer of the country’s biggest non-bank lender, Firstmac, said the underlying conditions for the group’s RMBS had never been better, with unemployment and mortgage arrears low, while the major banks were leaving the door open to competitors with a string of out-of-cycle interest rate hikes.- The Australian- view article