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Japanese bank eyes Australian mortgages

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By Caroline Dann | 5/09/2012

The Bank of Tokyo-Mitsubishi UFJ is in discussions with several second-tiers about funding Australian home loans.

 

According to the Australian Financial Review, AMP is currently in talks with the bank about its funding.

 

 

It's alleged The Bank of Tokyo-Mitsubishi UFJ will provide bank funding through a 'warehouse structure' which, according to the AFR, is "refinanced by issuing residential mortgage backed securities to institutional investors."

 

 

In theory, it could increase the lending power of second-tiers and increase competitiveness between the banks on home loan interest rates.

 

 

Japanese banks are increasingly interested in the Australian market.

 

 

In July, Sony Bank announced its intentions to launch in Australia following a 'feasibility' study.

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  • doyla66
    doyla66 Wednesday, 05 September 2012

    If our efforts to challenge the legality and safety of RMBSs gets traction then this should stop this additional overseas effort in it's tracks. Unfortunately it's coming in through AMP. Where's APRA and what do they think of this idea? Don't we have enough competition and enough problems already in the Australian lending industry?

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