What are the different types of regulations for mortgage lenders?
Regulation M: Consumer Leasing; Regulation N: Mortgage Acts and Practices-Advertising; Regulation O: Mortgage Assistance Relief Services; Regulation P: Privacy of Consumer Financial Information; Regulation V: Fair Credit Reporting; Regulation X: Real Estate Settlement Procedures Act; Regulation Z: Truth in Lending; Regulation DD: Truth in Savings
What do you need to know about the Australian mortgage market?
The mortgage market in Australia is very well developed. There’s a huge choice of mortgage providers and products, so you need to know a bit about how each of mortgage type works, to decide between them. You must remember, however, that as an expat buyer, you might not have access to such a broad range of options.
Can I get a mortgage in Australia as a non-resident?
This handy guide covers which banks and brokers offer mortgages and home loans in Australia to non-residents, the paperwork you’ll need to get your loan, the legal ins and outs, and what it might cost. Mortgages in Australia: What types of mortgages are available? The mortgage market in Australia is very well developed.
What are the mortgage risk weights in Australia?
For residential mortgage exposures, risk weights in Australia are based on: • whether the loan is covered by lenders mortgage insurance (LMI). Depending on the mix of characteristics, residential mortgage exposures can attract a risk weight of 35, 50, 75 or 100 per cent (Table C1).