Mortgage & Finance Association of Australia (MFAA) has released its response to the banking royal commission interim report, which denies any systemic wrongdoing. From Australian Broker:
The detailed document from the Mortgage & Finance Association of Australia (MFAA) picks up on concerns over commissions and the fact the report said loans written through mortgage brokers have higher leverage, more interest-only loans, higher debt-to-income and loan-to-value ratios, higher interest costs and an increased likelihood that borrowers will fall into arrears.
