Revista MBA

… and The Age does a feature on what it all means. Other changes? Many non-bank mortgage lenders have all but closed for business. Wholesale funding is more expensive, and the mortgaged-backed securities market has collapsed. Last year, some $47 billion of Australian residential mortgage-backed securities were sold. In the past six months, this has shrunk to slightly less than $2 billion. “It’s had quite a devastating effect on the mortgage industry,” says Joshua Gans, a professor at Melbourn

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