Residential mortgage brokers may soon have a new set of guidelines to follow when dealing with their borrower clients. At least that’s the objective of a new resolution approved by the Residential.
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Illustration: Dionne GainCredit: Namely: the complete abolition of conflicted commission payments by lenders to mortgage brokers. More than half of all loans in Australia are signed using the services.
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Analyst predicts relevance of mortgage brokers will wane as technology improves Comes as questionable lending practices exposed at banking royal commission analyst suggests Australia follow UK and.
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Banking royal commission: Credit to stay tight, mortgage brokers could quit – But some mortgage broking groups saw their share prices slump 25 per cent or more on Tuesday amid warnings a recommendation on broker pay structures could hit their business models, as well as.
Mortgage broker fees making home loans riskier, Royal Commission finds – Mortgage brokers have pushed back against a proposal to ban commissions that banks pay them for selling home loans after the royal commission found they contributed to misconduct and risky borrowing..
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