Major non bank home loan provider – Reports on home loan activity to APRA
As a major non-bank home loan provider, we have an important obligation to our government and other regulated organisations and comply as much as possible. For example, the Australian Prudential Regulation Authority (APRA) is an organisation that independently monitors the transactions and moves of financial organisations, including both banks and non-bank lenders.
They do this in order to promote financial stability and are meticulous. Because of their meticulous nature, our Mortgage House experts and representatives frequently send reports and updates to this organisation. The organisation, APRA, strives to protect both borrowers and lenders during their routine checks.
APRA keeps us accountable by reviewing home loan activity as reported by our transactions. This particular organisation has only been around since the first of July 1998 and yet continues to thrive. For the last twenty years, APRA has overseen financial institutions, creditors, life insurers and more.
The way that APRA holds Australian home loan lenders accountable is by interpreting data that the home lender sends to the independent organisation. Mortgage House experts always do business as intended and by the law, ensuring that the transaction of the loans is safe for both parties.
Reports on home loan activity to APRA Conclusion
Overall, there is always a need for an organisation like APRA to keep lenders and borrowers safe. The way that APRA does this is by interpreting data sent and reported by Mortgage House. Using this data, they hold our company accountable. Do you feel at ease and safe with our lending operations? Contact one of our experts today!