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Brokers delay mortgage applications
11 September 2009 |
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| Up to seventy five per cent of mortgage applications to banks from mortgage brokers had errors and needed to be reworked according to NAB Broker head of broker services, Amanda Rockliff.Commonwealth Bank’s general manager mortgage wealth retail banking services, James Sheffield, said applications coming from brokers had an average of 2.5 errors.The bankers acknowledged that there were problems at their end. They were taken off guard by the strong demand for home loans with the big banks over the past year and had not budgeted for the amount of processing they would need to do.Westpac senior manager consumer and business services team, Terry Neve, said: “We put on 130 extra people. That is settling down now.”All the big banks have core banking system upgrades under way and are hoping for greater efficiencies in the coming year. Commonwealth Bank introduced electronic lodgement in July, although mortgages are not yet on the new core banking system, and Westpac will have it from October. |
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| Source : The Sheet |
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| 30 September 2009 | - Variable rate mortgages going up |
| | - NSW and Victorian credit unions to merge |
| | - Mortgage brokers run off their feet |
| | - ING says please use Eftpos cash out |
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| 29 September 2009 | - Rates could rise next week |
| | - Commonwealth jacks up fixed rates |
| | - Rates are dangerously low says RBA |
| | - ING DIRECT pays customers to bank |
| | - Banks developing mobile banking |
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| 28 September 2009 | - Auction frenzy as grants phase out |
| | - Record number of Sydney auctions |
| | - 77,000 new customers for Suncorp |
| | - ANZ grabs all of ING |
| | - Bank bosses lose their bonuses |
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| 25 September 2009 | - Penalty fee cuts pressure mortgage rates |
| | - First home buyers borrow more than ever |
| | - Last weekend for boosted first home grants |
| | - Deposit guarantee may end early |
| | - Loan rules get tougher for self employed borrowers |
| | - Regional NSW tops home loan arrears list |
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| 24 September 2009 | - Real estate bargains available now |
| | - Flexi loan looks flexible |
| | - NAB adds bonus interest to iSaver |
| | - ANZ offers free share trading |
| | - We need financial advice |
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| 23 September 2009 | - Aussies still hoarding cash at home |
| | - Queensland banks are open for business |
| | - NAB still least popular business bank |
| | - BoQ the most popular bank for business |
| | - Beware bank advice |
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| 22 September 2009 | - Fixed rates back in fashion |
| | - Banks push fixed rates up |
| | - First home buyers have plenty to learn |
| | - Paying with a wave |
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| 21 September 2009 | - ANZ changes penalty fees |
| | - ANZ to charge up to ten fees in a row |
| | - Auctions delivering for vendors |
| | - Virgin/Citibank take on the big four |
| | - CBA asks ATM customers to return extra cash |
| | - B&E Devonport branch wins award |
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| 18 September 2009 | - Aussies paying off the credit card |
| | - Aussies still love debt |
| | - No more bank mergers |
| | - Credit Unions increase deposits and lending |
| | - Standout suburbs identified for buyers |
| | - Heritage offers investors 10% for 5 years |
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| 17 September 2009 | - Buyers told to beware auction emotions |
| | - CUA to expand customer services |
| | - Investors back as house prices climb |
| | - Banks adopt caring attitude to hardship cases |
| | - ANZ Portfolio – 1 loan for everything |
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| 16 September 2009 | - Commonwealth Bank rejigs its’ credit cards |
| | - Reserve says wait and see on rate rises |
| | - Deposits flowing into credit unions |
| | - Banks give business instant cash flow tools |
| | - Netbank outages drive exec pay down |
| | - Pensioners get $70 pay rise |
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| 15 September 2009 | - Government driving up interest rates |
| | - Interest rates will rise says Swan |
| | - Low fee card popular with Commbank customers |
| | - Financial ombudsman under pressure |
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| 14 September 2009 | - Credit Unions writing more mortgages |
| | - Outstanding auction results continue in Melbourne |
| | - Parents risk their home for kids mortgage |
| | - Broker sells mortgages on facebook |
| | - Citibank card offers rewards and low interest |
| | - More consumers funnelled into debt agreements |
| | - CBA likely to repay borrower’s losses |
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| 11 September 2009 | - Unlimited transactions plus a Visa Debit Card |
| | - Bankwest launches Capped Rate Home Loan |
| | - Property sales volumes jump across Australia |
| | - Commonwealth Bank accounts go real time |
| | - CBA gives prizes to teens |
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| 10 September 2009 | - Rates will rise says government |
| | - Affordable property still available in cities |
| | - Commonwealth rakes in the fees |
| | - Commonwealth driven by sales, not service |
| | - Unemployment Steady at 5.8pc |
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| 09 September 2009 | - Live ASX Share Prices Share Trading Game |
| | - Competition returning to mortgage market |
| | - Great home loan deals emerging |
| | - NAB eBanking account good online |
| | - ANZ is greenest bank in the world |
| | - 1500 mortgage brokers fail the test |
| | - Offset the holiday savings |
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| 08 September 2009 | - Borrowers can’t afford rate rises |
| | - Heritage raises variable mortgage rates |
| | - NAB abolishes overdrawn account penalties early |
| | - Credit card debt is our biggest worry |
| | - NAB shafts mum and dad investors |
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| 07 September 2009 | - ANZ reviews penalty fees |
| | - NAB and rediATMs now one network |
| | - Rates will rise before Christmas |
| | - Refinancing getting more popular |
| | - Sydney auction results improving |
| | - Investors prefer bank deposits over share casino |
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| 04 September 2009 | - Bankwest offering 7.1% term deposit |
| | - Big 4 banks are safe |
| | - ANZ, NAB lag behind in mortgage market |
| | - Commonwealth dominates new mortgages |
| | - Commonwealth had secret deal with Storm |
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| 03 September 2009 | - A Platinum MasterCard - with no annual fee |
| | - St George expands in Victoria |
| | - Banks told – check up on your customers |
| | - Australia to lead world in rate rises |
| | - ANZ faces more margin lending trouble |
| | - Bank investors in line for big pay out |
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| 02 September 2009 | - Rates unchanged – for now |
| | - Depositors head for ANZ and Westpac |
| | - NAB is the least popular bank |
| | - Business not satisfied by their bank |
| | - ANZ and E*trade link up online |
| | - Women in focus at Commbank |
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| 01 September 2009 | - RBA keeps rates on hold once again |
| | - 5 per cent shopper savings at Woolies |
| | - ING Direct tops customer satisfaction ratings |
| | - ANZ’s account fees under scrutiny |
| | - Suncorp expands mobile banking |
| | - Banks do the MAMBO tango |
| | - Commbank mobile bank gets 100,000 customers |
| | - Debt agreements unaffordable |
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