There’s been a lot going on in the industry since the last issue of MPA, with the RBA cash rate moving yet again, changes from APRA, the launch of open banking, and the new Banking Code of Practice. There seems to be much positivity in the market at the moment, but this is coming alongside warnings to be cautious about the changes.
A sign of things potentially being ‘on the up’, the AFG Index released in July for the three months to June 2019 showed the first increase in mortgage lodgements in over a year. AFG CEO David Bailey said he was “cautiously optimistic” about the increased activity.
There’s also been a lot happening in the world of MPA. Turn to page 16 to read about the Commercial Lenders Roundtable we hosted last month. Held on a beautiful Sydney day, there was a great mix of people, which made for some really good discussions.
There seems to be much positivity in the market at the moment, but this is coming alongside warnings to be cautious
It was interesting to hear the different experiences and attitudes of such a wide industry mix. There were banks, non-banks, an aggregator and two brokers. There were those who had been around for decades and those whose businesses were established within the last 10 years; those who specialised in SME fi nance and those who focused more on property.
As always, it was great to see the conversation fl ow between people who might be in competition with each other but were happy to come together to talk about the industry and share what they are doing to make things better for brokers and borrowers.
I’ve also been in Melbourne to celebrate the achievements of a number of industry players at the national MFAA awards. It was an honour to help judge a category and be invited along to see the worthy winner collect their trophy!
Congratulations to everyone who was a finalist – we’re gearing up for our own Australian Mortgage Awards in October, so we hope to see you there too!