I dont necessarily agree. The ability to service mortgage now has a much higher threshold. So even befire you get to LVR a whole chunk of people cannot get a loan of that value because the system rejects them via the affordability pricess. This helps LMI insurers as its cash flow that pays the mortgage.and the model would reduce those that cannot repay.
The bank used to still does have insurance products. They maybe didn't want the administrative issues and the cylicsl risks. They however need profits and if LMI insurers are making more money the banks want to claw some of tgst back into their results.
Ann: 2023 Full Year Results Investor Presentation, page-17
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