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1.Market Observations, 8.Was Sticky

9 Jan 2018 (AFR) – New ‘liar loans’ data reveal borrowers more stretched than some lenders suspect

(9 January 2018, AFR, p32, by Duncan Hughes)

‘One in five property borrowers are exaggerating their income and nearly half understating their spending, triggering new concerns about underwriting standards and vulnerability to sharp economic corrections, according to new analysis of loan applications by online property lender Tic:Toc Home Loans. The number of ‘liar loans’ exceeds original estimates by investment bank UBS that last year found about 30 per cent of home loans, or $500 billion worth of loans could be affected. The new data, based on applications received from last July, comes as the Australian Prudential Regulation Authority cracks down on…’

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