We never actually had the NINJA loans like the states. We had...

We never actually had the NINJA loans like the states. We had quite a diluted version of them for all of 5 minutes, still highly regulated loans, and then they were gone as the housing bust at that point in the states was well underway.

The additional HEM checks I honestly don't think make any difference at all, as we're talking pennies of the overall picture. The main checks is income and debt (bad). Expenses can be reined in, or increased if people feel the need to, people have to be able to be left to their own devices. If anything the HEM checks just allow banks to filter people to suit their own mortgage book at any given time which moves up and down depending on the banks business/micro/macro etc. No bank in aus is going to lend on even mortgages at max capacity that has been the case for a very long time.