By Jill Fraser for Lending central

Continuing our series on aggregators Lending Central spoke to Mortgage Wisdom CEO David Smith who maintains that as long as brokers and lenders continue to see issues as black and white the stalemate will persist.

LC: Are your brokers angry about the current situation with the big four banks?

DS: Yes, but I’d say they are equally frustrated. They’re actually extremely frustrated at present.

They’re trying to do everything that’s asked of them but the rules are constantly changing and they’re getting very concerned about where it’s all heading.

LC: What do you do in response to the frustration? Where do you go with it?

DS: Our brokers try to solve their issues by conventional means and when all else fails they call on Head Office for assistance. Head Office then escalates the issue accordingly.

Where the broker might be speaking with the BDM Head Office would be speaking with the National Manager, Lending Manager or even the General Manager.
Full Story

HBOS Australia has appointed David Smith as chief executive, effective immediately.

As a result, interim CEO Jack Dykes resumes his role as head of HBOS’s local corporate, property and project finance division.

Mr Smith was previously head of the Australian branch of the Bank of Scotland Treasury business. He has worked for HBOS for eleven years in investment and wholesale banking.
Full Story