APRA unearths shadow banking sector's risky loans
Unregulated non-banks, which account for about 1 per cent of Australian mortgage lending, use short-term bridging finance â known as warehouse finance â provided by major lenders to write home loans, which are then pooled into mortgage bonds and sold to investors. APRA in March said it would
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Reversal of fortune
On the first day of the iPhone X release, Avinash ended up with too many phones. After waiting in line, he bought two phones on spec, eventually deciding to list them on Facebook Marketplace for a quick profit. He figured it wouldn't be hard to find a buyer, and he was right: within hours of listing the
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INVESCO MORTGAGE CAPITAL INC (IVR) Moves Higher on Volume Spike for November 20
INVESCO MORTGAGE CAPITAL INC (IVR) traded on unusually high volume on Nov. 20, as the stock gained 3.8% to close at $18.02. On the day, INVESCO MORTGAGE CAPITAL INC saw 5.22 million shares trade hands on 28,585 trades. Considering that the stock averages only a daily volume of
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Stewart Information Services Co. (STC) Downgraded by Zacks Investment Research
Stewart Information Services Co. logo Zacks Investment Research downgraded shares of Stewart Information Services Co. (NYSE:STC) from a hold rating to a sell rating in a report published on Saturday. According to Zacks, âStewart Information Services Corporation's primary business is title insurance.
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Brexit: Banks to start shifting jobs from London in months and there's little Theresa May can do …
Barring some major breakthrough, global banks will implement their relocation plans early next year to guarantee they're able to have new offices inside the European Union running by the time the UK exits, people with knowledge of the matter said. There's little Prime Minister Theresa May can do to
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UPDATED: Yorkshire Bank delivers profit surge boosted by SME lending
âWe are firmly committed to SME lending. We are committed to lend £6bn over next three years.â When asked about the advantages that becoming independent from the NAB group had brought he said: âThe SME market in particular we expect growth from, so to return to the market has been really good
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FCC's Rollback of Net-Neutrality Rules Won't Settle the Divisive Issue
Federal Communications Commission Chairman Ajit Pai will take a big step toward his goal of voiding Obama-era net neutrality regulations Tuesday when he submits his plan to the rest of the commission for a vote. But the expected adoption of the plan by his fellow Republicans on the commission next
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House Tax Bill Is Littered With Loopholes for Wall Street's Wealthiest
Jeffrey Sachs, professor at Columbia University, says the war of the rich on the poor is astounding. Lawmakers who sped a bill through the U.S. House last week may have handed a few more goodies to Wall Street's wealthiest than they realize. Investors in billion-dollar hedge funds might be able to take
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Meet Alphabet's Guru of Googley Rigor
âBut the way we operate is, you sort of live in a Chromebook, and you just pop down in a huddle,â Google lingo for a small conference room. And no matter what, a good meal is just around the corner. A version of this article appears in the Dec. 1, 2017 issue of Fortune with the headline âAlphabet's Guru
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Mortgage refinancing in high demand as rates fall lower
October saw mortgage rates fall to 4.20 percent â a new low for 2017 (though rates have dropped more since then.) According to Ellie Mae's CEO and President, Jonathan Corr, these ever-dropping rates are spurring serious demand for refinancing. âWe are continuing to see borrowers take advantage of
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High-Speed Traders In Search of New Markets Jump Into Bitcoin
And then there's the reputation-related hang-up: for all its sparkle, bitcoin is used for payment of illicit activities including drug dealing, money laundering and human trafficking, said Roberto Rigobon, professor of applied economics at the MIT Sloan School of Management, and a Bloomberg View
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Paytm picks up majority stake in online lending startup CreditMate
It recently launched a pay later option—Paytm Postpaid– in partnership with the country's largest private lender ICICI Bank. Madhur Deora, SVP & CFO, Paytm said, “The top 1% of the consumers in our country have access to a wide variety of credit-related products, whereas the remaining have limited
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Special Report: Real estate team risks and rewards
The real estate industry is a large tent offering the opportunity for many different business models to thrive. Tight-knit independent offices, 100-percent commission firms, big-brand franchisors, virtual brokerages, tech-driven startups and luxury boutiques all have their place. They benefit from their unique
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China to fend off bubble risk with tighter property rules
Chinese authorities have said they will head off the risk of a property market crash by stiffening regulation and preventing high land prices. Regulators from land and housing ministries, as well as the Peoples Bank of China (PBOC), have agreed plans to curb speculation in bricks and mortar, Reuters
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Pictet Asset Management Ltd. Increases Holdings in Fidelity National Financial, Inc. (NYSE:FNF)
FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF's title insurance
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3 trends that could impact the banking landscape in South Africa
South Africa's banking industry is rapidly evolving in response to regulatory changes, economic pressures, technological advances and innovation in digital. âThe evolution of technology and increased customer expectations combined with the emergence of disruptive competitors, is placing significant
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Paris celebrates the arrival of the European Banking Authority
At the end of a suspenseful day, delegates from 27 EU governments meeting in the General Affairs Council chose to relocate the European Medicines Agency to Amsterdam and the European Banking Authority to Paris. EURACTIV France reports. Martine Aubry, Mayor of Lille, reacted strongly, accusing
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APRA: Lenders should follow 'prudent and responsible' policies
Wayne Byres, chairman of the Australian Prudential Regulation Authority (APRA), says household debt levels are still too high, and that the country's debt binge is on a dangerous trajectory, fuelled in part by record low interest rates. Speaking at a business conference in Sydney, Byres said lenders need
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Westpac, CBA want open banking safeguards to lift security
Westpac Banking Corp wants the government's “open banking” regime to incorporate safeguards including capital requirements for fintechs and an insurance scheme to compensate customers if their data is hacked. It also argues security would be enhanced if the government gives banks more time to
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We Just Got the First Look at the All-New Aston Martin V8 Vantage
Aston Martin has been firing on all cylinders as of late. From the DB11 grand tourer (starting at $200,000) to track-focused hypercar the Vulcan (starting at much higher), the English luxury car maker has been impressing critics and customers. Now it's showing its âentry-levelâ offering, the V8 Vantage,
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