We help our clients exceed their financial goals so that their risk is managed while creating a lasting legacy which has a greater impact on the lives of their family and their communities.
Fostering loan quality and strengthening competition in the marketplace – the big four banks reiterated the contribution of the broker channel.
Fostering loan quality and strengthening competition in the marketplace – the big four banks reiterated the contribution of the broker channel.
NAB’s executive general manager of broker partnership Anthony Waldron was asked to assess the value of the broker channel in the mortgage application process in the Australian Securities and Investments Commission (ASIC) second round of public hearings. This is in relation to the proposed update of ASIC’s responsible lending guidance (RG 209).
According to Waldron, brokers play an important role when it comes to initiating the credit process for consumers that depend on the third-party channel for access to lenders.
Moreover, Waldron added that brokers provide an added layer of assurance regarding the quality of a home loan by assessing a customer’s suitability for a product before lodging an application.
The corporate regulator expected to publish its new guidance before the end of the calendar year as ASIC’s second round of public hearings has concluded.
If you want to know more about this update, check out this link.
