Yearly Archives: 2014

BREAKING – Brokers dominate mortgage growth – Australian Broker Online

Mortgage brokers were responsible for 67% of the growth in the mortgage market in the year to September, according to research group ‘comparator’. The research commissioned by the Mortgage and Finance Association of Australia showed that of the $56.2 billion increase in mortgage lending in ABS Housing Loan statistics, brokers accounted for $37.7 billion, comparing […]

ASIC cracks down on property promoter for providing unlicensed financial product advice – Australian Broker Online

Property investment promoter, Park Trent Properties Group has been taken to court by ASIC for unlawfully promoting the use of Self Managed Super Funds to purchase investment property.  ASIC alleges and is seeking declarations that Park Trent is unlawfully carrying on a financial services business without an Australian financial services licence. According to the regulator, […]

Aussie consumers remain cautious, but it’s not as bad as it seems-Aust Broker Online

Consumers remain pessimistic about the Australian economy for the eight Consecutive month, but it isn’t as bad as it seems. Even though October marks the eight month that Westpac Melbourne Institute of Consumer Sentiment scored below 100- which indicates that pessimists outnumbered optimists – it isn’t all bad news. Bill Evans, chief economist at Westpac […]

CBA reputation ‘tarnised’: Narev – Mortgage Business

CBA chief executive Ian Narev has spoken frankly about the importance of Consumer trust, following revelations about poor financial advice within the bank earlier this year. Speaking at an American Chamber of Commerce lunch, Mr Narev said the topic of trust within financial services has been a “big topic of conversation at the CBA over […]

Bank of Queensland settle Storm Financial cases – The Adviser

Bank of Qld’s profits will be hit by more than $22 million after it reached a settlement with ASIC over the Storm Financial collapse. The bank announced yesterday that it had resolved both of its outstanding Storm Financial proceedings, subject to Federal Court approval. The two proceedings are ASIC’s unregistered managed investment scheme proceedings, which […]

Mortgage arrears remain stable, according to ratings agency – Australian Broker Online

New research reveals that Aussies are staying on top of their mortgage commitments, thanks to the strong housing market and low interest rates. According to ratings agency Fitch’s Dinkum RMBS Index, mortgage arrears remained stable in the second quarter of 2014 due to the intense competition in the mortgage market keeping interest rates at rock […]

Big bank customer satisfaction competition narrows – Australian Broker Online

The competition for top spot in customer satisfaction rating among the major banks is narrowing, new research has shown. The latest Roy Morgan Research banking customer satisfaction survey has seen Commonwealth Bank retain its top spot among the majors for customer satisfaction at 81.5%. But Westpac has narrowed CBA’s  lead, ranking 80.2% for customer satisfaction. […]