Third-party originators of home loans are pinning their hopes on a vote by the Senate to overturn regulations that ban exit fees from the beginning of July.
One talking point of the Mortgage Finance Association of Australia convention in Brisbane at the end of last week was the prospect of a vote in the Senate to overturn the regulations.
On some accounts lobbyists for the MFAA believe the numbers are confirmed to overturn the ban, though this may be premature.
Banking Day has been unable to confirm the view of the Coalition on exit fees.
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The Australian today columnist John Durie, writing on the prospect of the Senate voting down the regulations, reports that the MFAA "backed by Opposition spokesman Joe Hockey, aims for that to happen."
One recommendation of the report last month by the Senate's economics committee into banking competition was that the government drop the ban on exit fees. Coalition senators dominated that committee.
Two more Senate votes are needed, which in practice means independent senators Nick Xenophon and Steve Fielding.
A media adviser to Senator Xeonophon (who was on the Senate banking committee) said he was still to make up his mind. Senator Fielding's position is not clear.
The MFAA yesterday began agitating for a letter writing campaign to members of parliament, of which the independent senators must be the main target.