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Cash rate call made amid lockdown uncertainty
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RBA makes cash rate call as lockdown drags on
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Mortgage Business
Resimac plants 40,000 trees in carbon offset program By Malavika Santhebennur 30 July 2021
The non-bank lender has hit the new milestone as part of its carbon conscious program, where a tree is planted for every new settled loan.
Resimac has reached a new milestone of planting 40,000 trees as of the first week of July as part of its carbon conscious program.
Under the program, a mallee eucalypt tree is planted in the Western Australian Wheatbelt region for every new loan settled.
Resimac’s carbon conscious program is not factored into the pricing of its home loans and does not result in any additional expense for customers.
Mortgage Business
AFCA appoints six new ombudsmen By Malavika Santhebennur 29 July 2021
The complaints authority has recruited three new ombudsmen (including from ANZ and Westpac), and promoted three others internally.
The Australian Financial Complaints Authority (AFCA) has appointed three new ombudsmen from the banking and insurance sectors.
Louise McAuliffe will join AFCA from ANZ in the Melbourne office while James Taylor will join from Westpac in the Sydney office.
Both Ms McAuliffe and Mr Taylor will join as ombudsmen in AFCA’s banking and finance team in September.
David Short will join as an ombudsman in AFCA’s insurance team from business insurance service provider BizCover. He will join the Sydney office at the end of August.
Mortgage Business
Owning home key to financial wellness: YFW By Malavika Santhebennur 29 July 2021
A report has found that home ownership is the single most important factor affecting a person’s perceived level of financial wellness.
The Your Financial Wellness (YFW) User Insights 2021 report has found a strong correlation between home ownership and perceived level of financial wellness, with an average score of 7.9 for those surveyed who own their home outright, the highest average score of any variables analysed in the report.
On the other hand, the report – commissioned by YFW with support from Teachers Mutual Bank Limited (TMBL) – found that people renting a home returned a much lower financial wellness score than home owners (5.1).
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