Arrears alerts
Lenders have started to advise investors that they can expect to see an increase in arrears.Commonwealth Bank issued notices to investors in a range of its Medallion Trust Series mortgage securitisations, saying that relief measures introduced by the bank "may affect home loans which are assets of the Medallion Trusts".Thorn Group announced that the level of arrears in its business finance division has risen. Following a review, it has written off or fully provided for $12.8 million of debts for the year ended March 2020. The division has receivables of around $320 million.