Home loans

"Borrowers had a poor understanding of the risks and future costs" of "reverse mortgages : ASIC

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Australia's ASIC has undertaken an extensive review of so-called "reverse mortgages" which are actual mortgages with potentially catastrophic long-tail results, which may be one of the things that borrowers did not understand. The findings of the review are startling.

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Editorial Staff

29 August 2018 - 5:21am

Publication:

BankingInsuranceSecurities.Com

BIScom Subsection:

Home loans

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Another indicator that the UK financial crisis isn't dead hits mailboxes

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As if the crisis in retail isn't a sign that the global financial crisis, and the UK's part in it, isn't over, the news from manufacturing and other sectors of large-scale redundancies, non-renewal of contracts for term-staff and closures or restructuring of businesses in non-high street retail isn't enough, mailboxes are being spammed with one of the earliest signs of a financial crisis, threatening to ensure that recovery is a long way off. At the forefront is a spam promoting SAGA, the company that is supposedly the elderly's best friend.

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Editorial Staff

16 April 2018 - 10:36am

Publication:

BankingInsuranceSecurities.Com

BIScom Subsection:

Home loans

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Arrests over frauds against distressed homeowners

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An indictment alleges accused "tricked homeowners into signing fraudulent deeds on their properties and then allegedly used the fraudulent deeds to extort money from homeowners, charge homeowners illegal fees to delay foreclosure and eviction actions and to steal some homes outright."

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Editorial Staff

15 March 2018 - 12:47am

Publication:

BankingInsuranceSecurities.Com

BIScom Subsection:

Home loans

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Commonwealth Bank of Australia unit refunds 10,800 overcharged mortgage customers

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BankWest, a division of Commonwealth Bank of Australia, failed to apply interest credits to offset accounts. It's having to make a big refund to thousands of customers.

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Editorial Staff

3 February 2017 - 4:29am

Publication:

BankingInsuranceSecurities.Com

BIScom Subsection:

Home loans

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It's time to make all new home builds developer-financed

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As Australian home-builder Collier Homes goes into liquidation, it's time to question, both in Australia and in other countries, whether purchasers should be required to make payments, beyond a reservation deposit, on new builds. Major reform is needed.

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Editorial Staff

20 October 2016 - 6:10am

Publication:

BankingInsuranceSecurities.Com

BIScom Subsection:

Home loans

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Home loans: Lloyds lets customers overpay without penalty

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The UK's Lloyds Banking Group took on a huge loan book when it took over the rapidly imploding HBOS group that included Halifax and Bank of Scotland. Halifax was the UK's largest mortgage lender. And now it's offering a helping hand to those who can afford to pay off their loans more quickly.

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Editorial Staff

15 March 2010 - 12:00am

Publication:

BankingInsuranceSecurities.Com

BIScom Subsection:

Home loans

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