Andrew Cornell

5 days ago | capitalbrief.com | Andrew Cornell

The context: Despite the deterioration in performance, the interest rate cuts of 19 February 2025, whose impact would not have been evident in the data to 31 March, and the subsequent interest rate cut in May 2025, should prevent further deterioration in Australian mortgage performance in the near term, Fitch said. Australian home prices rose 0.9% in the March quarter, after falling by 0.2% in the previous quarter.

5 days ago | capitalbrief.com | Andrew Cornell

All the major banks are looking to increase the share of home lending they undertake directly rather than via brokers. The reason is simple: mortgage margins are coming down, and broker commissions erode returns. But borrowers prefer brokers, with 75% of all home loans originated through them. To win back direct customers, banks need a superior offering — specifically, a seamless, digital loan process at the best price.

1 week ago | capitalbrief.com | Andrew Cornell

It’s a seller’s market for executive talent in banking — and headhunters are rubbing their hands with glee. In a move that surprised no one, ANZ’s head of retail, Maile Carnegie, announced her retirement, having missed out on the CEO gig to Portuguese banker Nuno Matos. Get The Edition in your inboxSigned up to The EditionA must-read afternoon newsletter. Free to join, read by decision makers and featuring our top stories. Update and view your newsletter preferences in your account.

1 week ago | capitalbrief.com | Andrew Cornell

As banks pull back, private credit is stepping in — funding non-bank lenders across niche sectors and driving a shift in Australia’s lending landscape. Private credit in Australia is playing an increasingly significant role — not only lending where banks won’t, but also financing non-banks that are in direct competition with the major lenders.

1 week ago | capitalbrief.com | Andrew Cornell

NAB is shutting down its long-running white label mortgage platform, Advantedge, prompting backlash from brokers and a major shift for over 50,000 customers. National Australia Bank is shutting down one of its oldest mortgage platforms as it seeks to improve productivity — a move that has upset mortgage brokers and aggregators who use the platform. Called 'Advantedge', the platform sat alongside Citi mortgages — now migrated to NAB — and ubank.