Brief: APRA cautions ADIs on mortgage data accuracy
The Australian Prudential Regulation Authority has written to authorised deposit-taking institutions warning them about the need to be consistent when reporting their mortgage data, the ABC reports. A number of lenders have reclassified mortgages over the past year between investor and owner-occupier loans. APRA head of data collection Barton Ashcroft said in a letter to ADIs that reporting "must reflect the current purpose of the loan because the split by housing loan purpose is important for monetary policy and financial stability considerations."