What does automation mean? How can automation increase your loan officers’ productivity, streamline commercial loan origination, and make your clients happier? Introduction Many software programs can be used to assess credit and originate loans for both traditional and non-traditional lenders. Financial institutions are becoming more aware of the need to improve their practices to improve efficiency, decision... / READ MORE /

The cost of the home loan is affected by rising interest rates, not just in terms of monthly payments. The interest rates also affect the borrowing capacity of those looking to get a home loan. Due to buffers for serviceability, the effect is greater than you may think. When you apply for a mortgage, lenders will add... / READ MORE /

The CoreLogic Housing Affordability August 2022 report has shown that affordability is improving due to the decrease in home values. The report analyses housing affordability using four metrics The ratio between the value of a home and household income Years needed to save 20% of a deposit What portion of your income is required to service the... / READ MORE /

Since the pandemic in 2020, Australia’s construction industry has made a significant recovery. The demand for new homes has reached record highs. The industry struggles to meet this demand, and these difficulties are expected to last well into the future. The pandemic’s impact on supply chains has been well documented and is a major problem. This causes... / READ MORE /

From October 1, 2022, to June 20, 2025, 10,000 spaces will be made available annually under the Regional Home Buyer Guarantee. The government has moved the start date of the scheme from January 1, 2023, to an earlier date. The news is great for Australians living in regional areas. The founder, Otto Dargan, and Alan Hemmings,... / READ MORE /

Reserve Bank of Australia has raised the cash rate by 25 basis points for the sixth consecutive month. The increase from 0.10 percent in April to 2,60 percent in October is a result of the RBA’s latest move. The rising rates have increased the repayment burden for borrowers. Higher interest rates are also affecting property values. House... / READ MORE /

Westpac Group has now joined the lending panel of the Home Guarantee scheme so Australian borrowers can explore their options. Westpac and RAMS are set to participate in the Scheme on 1 July 2023. St. George Bank of Melbourne, BankSA, and Bank of Melbourne will follow later that year. The Scheme is managed by the National... / READ MORE /

After months of growth, Australia’s property prices have started to fall. Unfortunately, it’s not necessarily a time to celebrate. The cost of living is rising – making it harder to save for a deposit – and interest rates are as well, so your borrowing power is probably decreasing. With forecasts that the cash rate will likely continue to increase... / READ MORE /

The constant rise in interest rates is a new experience for many mortgage holders. Since May, the Reserve Bank of Australia has raised the cash rate from 0.1% to 1.85%. Cash rate increases directly impact the interest rate of your home loan, which affects the amount you pay in interest every month. According to our calculations, if... / READ MORE /

Reserve Bank of Australia raises interest rates due to inflation and tightening the labor market. It is becoming more difficult to buy a home. The housing market is slowing down because people have lost confidence in the economy, and they can’t afford homes. Housing values in Sydney and Melbourne are declining a bit. Brisbane, Adelaide, and Perth are... / READ MORE /