Two more leave the mortgage market
The Sheet this morning reports that two more wholesale funders have exited the mortgage funding arena. While not explicitly leaving the sector, Origin – the wholesale arm of ANZ has announced repricing, effectively removing the discounts it made available to mortgage managers. In addition it has centralised its operations to Melbourne and cut its workforce. The market is interpreting this as a "retirement" from the market. In a similar move Maxis a subsidiary of Members Equity Bank has announced it will cease lending and like Origin focus on lending via their high street brand names.
Source: The Sheet