Broker

Total formal consumer complaints about the major banks fell by 7 per cent in the 2021 financial year, according to the financial ombudsman.

APRA has granted a licence to a neo-lender to operate as a restricted authorised deposit-taking institution.

The Mortgage Choice-Smartline parent company has reported an 18 per cent increase in net profit, driven by a “strong residential market recovery”.

Aggregator Finsure has grown its mortgage broker force by around a fifth in the 2021 financial year, as parent company BNK managed to increase its loan book by almost a quarter.

True Savings, a new online brokerage headed by former CBA executive Pete Steel, has entered the Australian mortgage market.

Banks, mortgage brokers and lenders could receive sizeably larger bills for ASIC’s industry levies come January 2022.

Aussie fintech DAIDEC Analytics has rolled out a predictive analytics tool for brokers, which assesses and rates home loan applications.

The parent company of PEXA has confirmed that the property settlements platform is expected to list on the ASX in late June, after turning down suitors in favour of a $3.3 billion IPO.

The listed bank has forecast a full-year net profit in the range of $6.7 million to $7 million, a rise of up to 42 per cent on the year before.

AFG Securities has priced an upsized $750-million residential mortgage-backed securities issue.