RBA warns the banks ‘don’t be stingy’ (2GB Money News)

The Reserve Bank of Australia has warned banks to loosen up their lending practices when approving home loan applications. Firstmac CFO James Austin tells Ross Greenwood bank staff need to be more consistent when granting credit.  

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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