Lehman class action settlement close 03 December 2013 5:20PM Parties involved in the class action against Lehman Brothers Australia over the sale of credit derivatives have agreed on a settlement. Litigation funder Bentham IMF (formerly IMF) announced yesterd.. read more
First-home buyers getting scarcer 03 December 2013 5:13PM The number of first-home buyers in the mortgage market fell further in November, according to the latest AFG mortgage report. First-home buyers accounted for 10.3 per cent of the business written by.. read more
Mortgage market's glacial flow 02 December 2013 5:26PM The mortgage market is picking up momentum, but the rate of growth is glacial. Reserve Bank figures released on Friday show that the annual rate of growth in housing finance aggregates has increased.. read more
Firstmac buys Waratah mortgage book 02 December 2013 5:24PM Lender Firstmac has acquired an A$80 million portfolio of mortgages originated by the Waratah Cooperative Housing Society, which has been in receivership since last December. read more
Modest take-up of IMB's latest buyback offer 02 December 2013 5:24PM IMB has completed its second share buyback since it accepted a consultant's report last year that it cancel its ordinary shares through a series of buybacks. The building society announced last week.. read more
Investec puts its professional finance division on the block 29 November 2013 5:33PM Investec Bank (Australia) has put both its professional finance and its asset finance and leasing divisions on the market, as it pursues a strategy of turning its business into one based on investme.. read more
Smartpay returns to profitability 29 November 2013 5:31PM New Zealand point-of-sale payment system provider Smartpay has released its first financial report since listing on the Australian Securities Exchange in September. The company reported strong growt.. read more
ARCA to launch consumer website 29 November 2013 5:30PM The Australian Retail Credit Association is developing a website that it hopes will help consumers better understand credit reporting. The organisation that led the lobbying for the change to a comp.. read more
Down-traders skew the housing finance market 28 November 2013 5:59PM The high proportion of so-called "down-traders" active in the residential property market at the moment helps explain the disparity between strong house price growth and weak housing finance growth,.. read more
Shareholders vote for Firstfolio recapitalisation 28 November 2013 5:54PM Firstfolio shareholders have approved the company's recapitalisation. At an extraordinary general meeting held yesterday, shareholders voted in favour of a A$50.2 million equity injection that will.. read more