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P&N Bank withdraws from Home Guarantee Scheme

The lender will soon cease offering loans for the government’s Home Guarantee Scheme due to “operational factors”.

Returns on NAB broker loans ‘below the cost of capital’

The new chief executive of the major bank has revealed that returns on broker loans are “below the cost of capital” due to “price premiums” in the channel.

BNK loan book holds steady in 3Q24

The ASX-listed lender has released its trading update for the third quarter of the financial year 2024.

Heartland Bank acquires Challenger Bank

The New Zealand bank has officially acquired the digital bank following approval from regulatory boards.

Westpac loan book growth accelerates: APRA

The growth rate of the major bank’s mortgage book doubled in March, APRA has revealed.

Non-bank lender hacked

The non-bank lender has been targeted by hackers, with an “unauthorised third party” reportedly having accessed customer information.

AMP overhauls mortgage application system

The bank has transformed its home loan application system in the hopes of providing greater visibility and enabling faster approvals.

CBA hikes bonuses to stop bankers from becoming brokers

The major bank is increasing the amount of money its bankers can make on home loans, in a bid to stem the outflow of bankers to the broker channel.

Major banks have the edge on tech, say brokers

The interim results of the Third-Party Lending Survey 2024 have shown that brokers believe the major banks are the frontrunners on tech when it comes to mortgages.

Moneytech launches new SME lending product

The non-bank lender is offering a combined working capital and business loan product for small- to medium-sized enterprises.

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