Via the AFR comes the bank’s worst nightmare, jingle mail:
In moves set to further shift the lending dynamic from “buyer beware” to “seller beware”, Maurice Blackburn is preparing to sue the banks over interest-only lending, mortgage fraud and how household expenses were calculated prior to approving loans.
…”The banks would want to make sure no one ends up proving that they have been irresponsibly lending… because that opens up a can of worms,” said Omkar Joshi, a portfolio manager at Regal Funds Management.
