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Article: How big is Australia's non-conforming mortgage market? (Special Report -- Account Aggregation).(may be around A$6 billion or 2.5% of prime residential housing finance market)(Brief Article)
- Article from:
- Australian Banking & Finance
- Article date:
- March 28, 2002
- Author:
CopyrightCOPYRIGHT 2002 First Charlton Communications Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JUST HOW BIG IS AUSTRALIA'S emerging non-conforming mortgage market?
This is a question which, to date, has largely gone unanswered. Various commentators have attempted to quantify the potential size of this market, a task made difficult by its relative immaturity and a lack of reliable industry data.
There is no precise measure available of the origination volumes in the non-conforming mortgage market. Non-conforming or sub-prime mortgage loans are loans displaying characteristics which generally do not conform to standard market lending parameters.
Most non-conforming loan applicants have typically either had unacceptable employment history, ...