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Treasury launches consultation on giving brokers CDR data

Treasury launches consultation on giving brokers CDR data subscribe A A Stakeholders have until 30 July to respond to a consultation on new rules that will allow consumers to share their open banking data with mortgage brokers. Treasury has released for consultation new draft rules to amend the Consumer Data Right (CDR) so that consumers can share their data with “trusted professional advisers”, including mortgage brokers, without these professionals needing to fall under the same regulatory obligations that apply to data recipients. Currently, the rules do not permit the disclosure of CDR data by an accredited data recipient (ADR), such as a bank, to other parties that the consumer may wish to share their CDR data with.

Mortgage Choice officially joins REA Group

Mortgage Choice officially joins REA Group subscribe A A The major brokerage has today officially joined the REA Group, expanding the digital property advertising business’s reach into the mortgage distribution space. As of today (1 July), franchise brokerage brand Mortgage Choice has officially joined the REA Group. The 29-year-old brokerage and aggregator, which suspended trading on the ASX on 18 June after receiving court approval for REA Group’s $244-million acquisition, will continue to operate under its own brand through its network of over 380 franchises and over 500 mortgage brokers across Australia. Shareholders of Mortgage Choice will today receive a cash consideration of $1.95 per share, as per the scheme of arrangement.

Bank CEOs quizzed on turnaround differentials

Bank CEOs quizzed on turnaround differentials
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