RHG runs out of funding options-
23 July 2008 6:46amThe wholesale funders of RHG Group may be unwilling to extend warehouse facilities, and in turn may end up owning the relevant home loan pools outright. » read more »
- Outlook for home loan serviceability deteriorates
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23 July 2008 6:44amAlmost a quarter of home loan borrowers have had difficulty meeting their mortgage repayments over the past year, according to a survey published yesterday. » read more »
- Calliva suspends superannuation loans
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23 July 2008 6:44amSpecialist lender Calliva Group has been forced to suspend new applications for its superannuation fund loan, SuperAccess, after being told by its funder RBS that its facility would not be renewed. » read more »
- Broker consolidation under way
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23 July 2008 6:43amMortgage aggregator Connective Originator Services Network is on target to almost double the number of brokers in the group this year. At the end of last year it had 550 brokers on board and by the end of this year it expects to have 1000. » read more »
- Yieldbroker extends reach
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23 July 2008 6:43amYieldbroker announced yesterday that UBS and RBC will be joining ABN Amro, Citi, Deutsche Bank, JP Morgan and Macquarie Bank as equal shareholders. Yieldbroker was founded in 1999 as a co-operative venture between select debt market participants to facilitate the growth of electronic marketplaces in Australian and New Zealand debt. » read more »
- Merrill in no mood to help ANZ settle on Opes
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23 July 2008 6:43amMerrill Lynch Australia chief executive Paul Masi told The Australian that Merrill Lynch was unlikely to participate in any settlement of claims between the administrator of Opes Prime, the firm’s former clients and ANZ. The boutique stock lender, which obtained most of its wholesale funding from ANZ and Merrill, failed in late March. » read more »
- Fund freeze for Canterbury Mortgage Trust
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22 July 2008 6:08amCanterbury Mortgage Trust yesterday froze redemptions on a NZ$250 million fund until March 2009, The Press reported. About 5000 investors have funds in the Christchurch-based firm. » read more »
- Macquarie keeps the ABS market ticking over
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22 July 2008 6:06amMacquarie Leasing has launched its second securitisation this year under the Smart program. Following the successful $1.2 billion issue of Smart Series 2008 1E Trust in May, Smart Series 2008-2 Trust is a $250 million issue. » read more »
- HBOS clears some of the rights rump
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22 July 2008 6:06amMorgan Stanley and Dresdner Kleinwort are holding a $2.5 billion stake in HBOS after managing to find buyers for part of the rump stake in the otherwise disappointing rights issues for the British bank. » read more »
- No break fee and no discount from NAB
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22 July 2008 6:05amNational Australia Bank is the first of the majors to pander to the government in launching a home loan with no early exit, discharge or settlement fees. » read more »
- Cuscal waiting for bopo funds
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21 July 2008 7:37amThe collapse of Bill Express two weeks ago turns out to have created an episode of what might be termed settlement failure, affecting Cuscal Limited, the central services entity for most credit unions.
» read more »
