Comments on: Banking busts, 2008. A growing list http://www.crikey.com.au/2008/07/10/banking-busts-2008-a-growing-list/ now with extra source Sun, 22 Nov 2009 09:14:11 +1100 http://wordpress.org/?v=2.8.6 hourly 1 By: Ross http://www.crikey.com.au/2008/07/10/banking-busts-2008-a-growing-list/#comment-19248 Ross Thu, 01 Jan 1970 10:00:00 +0000 #comment-19248 Since when has Aussie Home loans been up for sale? Aussie John is making a motza refinancing his Aussie loans over to the Bank's. <br /><br />He receives an upfront and trail payment and needs less staff to look after his Aussie loans. If business gets a little slow for his brokers all he needs to do is increase the rates on his aussie loans to make refinanacing more atrtractive. <br /><br />A win win situation for him which i couldn't imagine him leaving for quite a while. Since when has Aussie Home loans been up for sale? Aussie John is making a motza refinancing his Aussie loans over to the Bank’s.

He receives an upfront and trail payment and needs less staff to look after his Aussie loans. If business gets a little slow for his brokers all he needs to do is increase the rates on his aussie loans to make refinanacing more atrtractive.

A win win situation for him which i couldn’t imagine him leaving for quite a while.

]]> By: Tom http://www.crikey.com.au/2008/07/10/banking-busts-2008-a-growing-list/#comment-19249 Tom Thu, 01 Jan 1970 10:00:00 +0000 #comment-19249 What about Virgin Money? They've closed their book.<br /><br />http://virginmoney.com.au/home-loans/ What about Virgin Money? They’ve closed their book.

http://virginmoney.com.au/home-loans/

]]> By: Raemond http://www.crikey.com.au/2008/07/10/banking-busts-2008-a-growing-list/#comment-19250 Raemond Thu, 01 Jan 1970 10:00:00 +0000 #comment-19250 .......Seiza Capital, IMB, Capital Securities, Macquarie, Pepper, Sintex (no more Lo Doc) and the carnage will continue. FirstMac may be surviving but they are deliberately rationing funding by pricing themselves out of the market (as is ING Wholesale). The Big Four are keeping shareholders happy by increasing market share but it will be interesting to see how happy these same shareholders are when they realise new business written at prevailing rates is more or less marginal in terms of profitability.....and so up go the interest rates to borrowers, and so the non-bank lenders come back into the lending equation. …….Seiza Capital, IMB, Capital Securities, Macquarie, Pepper, Sintex (no more Lo Doc) and the carnage will continue. FirstMac may be surviving but they are deliberately rationing funding by pricing themselves out of the market (as is ING Wholesale). The Big Four are keeping shareholders happy by increasing market share but it will be interesting to see how happy these same shareholders are when they realise new business written at prevailing rates is more or less marginal in terms of profitability…..and so up go the interest rates to borrowers, and so the non-bank lenders come back into the lending equation.

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