Briefs: DirectMoney off to a flying start, ANZ pays out, Sunland Group in $40 million bond issue, an
Marketplace lender DirectMoney has reported healthy growth in its loan book, with month-on-month growth in settlements of around 50 per cent. Unsecured personal loan settlements in October were worth A$1.15 million, compared with $782,548 in September and $359,800 in August. The company, which was listed on the Australian Securities Exchange in July, has provided loans for a total of 490 borrowers. ANZ is to compensate around 200,000 customers for bonus interest that was not paid to their Progress Saver Accounts over a number of years. ANZ said it misaligned the monthly cycle, so savers who had met the conditions that month may not have been rewarded. ANZ reported the problem to ASIC under its breach reporting obligations, a move acknowledged by ASIC Deputy Chairman Peter Kell. ASIC said the process of contacting affected customers should be completed by the end of this week. ASX-listed residential property developer, Sunland Group, is marketing a $40 million issue of five-year fixed rate notes in a deal arranged by FIIG Securities. The senior unsecured notes will pay an indicative interest rate of 7.55 per cent. Sunland follows previous property sector issuers including property investment group 360 Capital, Brisbane-based developer Stockwell, Sydney-based developer Payce, and global infrastructure developer Plenary. AMP Bank is returning to investor property lending from 16 November, following a temporary withdrawal from the market in response to what the bank called "regulatory growth guidelines." Property lending to self-managed super funds remains on hold until "later this year," according to an announcement from the bank. Despite this self-imposed freeze on SMSF property lending, AMP Bank's website still allows potential SMSF borrowers to access marketing materials and property loan application forms. The Commonwealth Bank will become the anchor tenant at the Australian Technology Park, with a Mirvac Group-led consortium to acquire and redevelop the site. CBA group CFO, David Craig, said the new campus - two "state-of-the-art" buildings - would house 10,000 people, "the largest number of employees we've ever been able to accommodate in a single site." It also means CBA will not renew leases of large office space elsewhere, to gradually consolidate its workforce. CBA also plans to join with Mirvac and Centuria to establish a Tech Incubation Fund to encourage further use of the ATP precinct as a technology and innovation hub. The Australian Retail Credit Association has welcomed peer-to-peer lender MoneyPlace as its newest member, and the second marketplace lender to join as a "Tier Four" member (a new category designed for smaller and emerging credit providers). One motivation for the move appeared to be the opportunity it will afford MoneyPlace to contribute data to the comprehensive credit reporting system.