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News
FRA mandates event-by-event credit reporting for non-bank lenders
21+ hour, 19+ min ago (127+ words) What the decisions do not address is the technical plumbing — no maximum reporting latency, no required format or validation rules, no clarity on how outages or failed transmissions will be handled, and still no specification for how an approved-but-undrawn facility…...
Almost 900,000 borrowers lock in new deal six months ahead of maturity in H1
5+ day, 14+ hour ago (179+ words) In Q2 2026, around 22,400 mortgages saw a reduction in monthly payments due to a temporary switch to interest-only or a term extension. New data from the FCA shows that 880,635 mortgage holders locked into a new deal up to six months ahead of…...
FinStreet surpasses $1 billion in loan settlements
2+ week, 6+ day ago (513+ words) FinStreet continues to up the ante. The Sydney-based non-bank lender recently surpassed $1 billion in cumulative loan settlements, underscoring the firm's continued growth, as well as the broader expansion of Australia's non-bank lending sector. "It's more than just a number. Every…...
Banks and brokers back CSLR overhaul
3+ week, 4+ day ago (622+ words) Industry bodies welcome reforms to the compensation scheme, calling for accountability and fairer funding arrangements The Mortgage & Finance Association of Australia (MFAA) and the Australian Banking Association (ABA) have both endorsed a package of reforms to the Compensation Scheme of…...