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19/03/18

22:07

Post #: 31870123
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Originally posted by rona142 ↑

My comment was not about the article you linked in that post but the article the original poster was talking about.

Ie 28% of People have lied about income or expenses on mortgage applications. Low arrears is proof that checks and balances are not letting these slip through the cracks. If someone has fraudulently obtained finance then it is highly likely they will end up in arrears within the first 12 months of taking on that debt. This hasn't happened. Aus banks are in the business of making money not losing it. Spend a day with an AML or risk representative at one of the big 4, we are not cowboys like the US or Euro banks.

Largely the recent increases in arrears in Aus loans have been in North Queensland and WA towns which have large exposure to the mining industry. Doesn't take a genius to work out the cause their and it isn't application fraud.

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"Spend a day with an AML or risk representative at one of the big 4, we are not cowboys like the US or Euro banks"

Yep. Not cowboys. Crooks perhaps.

http://www.abc.net.au/news/2018-03-...on-to-put-liar-loans-in-the-spotlight/9538316
http://www.abc.net.au/news/2018-03-...ank-breaches-responsible-lending-laws/9547220
http://www.abc.net.au/news/2018-03-15/banking-royal-commission-mortgage-brokers-cba/9550120
http://www.abc.net.au/news/2018-03-16/banking-royal-commission-elder-financial-abuse-lending/9555162
http://www.abc.net.au/news/2018-03-17/banking-royal-commission-hears-mortgage-brokers-bribed/9557558
http://www.abc.net.au/news/2018-03-...nz--evidence-mortages-will-ranken-hem/9562136
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