Items Tagged with 'Australia'


  • Website gives property an attitude, now it just needs properties

    There's a new way to sell your home in Australia, and it banks on the fact that people buy homes with their hearts more so than their heads. One new Australian real estate listing website gives owners the opportunity to list their home and garnish it with personality. An emotional attachment, the site attests, will draw in buyers more quickly and convince them to buy based on different aspects than just the number of bedrooms and bathrooms.
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  • Aussie man's home sold while he's out of the country

    Now this is what you call lax underwriting. Picture this: you're taking a relaxing summer vacation overseas or perhaps a business trip, soaking up the sun or networking over drinks, when you get call from your neighbor back home saying that a house of yours was in the process of being sold. This shocking and uncanny circumstance happened to an Australian man, Roger Mildenhall. He had been out of his hometown, a suburb of Perth, for over a year when he heard the news. On top of that, his second property and permanent residence was sold in June. Locks changed and all.
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  • Delinquencies Slip in Australian RMBS: Moody's

    Delinquencies among prime Australian residential mortgage-backed securities (RMBS) fell in Q209, according to a Moody's Investors Service report Wednesday. Delinquencies of more than 30 days slipped for the second consecutive quarter despite rising unemployment, Moody's said. Reductions in official interest rates drove the decline in the deeper delinquency bucket. Delinquencies greater than 30 days slipped to 1.32% from 1.45% in Q109 and from a record high of 1.58% in December 2008.
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  • MCCA Launches Islamic Mortgage Investment Fund

    The Muslim Community Cooperative – Australia (MCCA) launched an real estate investment fund this week that complies with Islamic law geared toward such investors in the country. The company said it believes it is the first such retail managed investment mortgage fund following Shariah principles, including strict guidelines on industries or services where funds can be invested.
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  • Lowe's Ventures into the Land Down Under

    US home improvement chain Lowe's [stock LOW][/stock] partnered with Australia's largest retailer, Woolworths Limited, to develop a network of stores in the land down under. "The Australian love of property and high levels of home ownership mean that maintaining and improving homes is an important part of everyday life," said Michael Luscombe, Woolworths' chief executive, in a joint release.
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  • GMAC Loses $2bn on Mortgage Operations in Q209

    GMAC Financial Services' mortgage operations contributed $1.8bn net loss to the company's Q209 after-tax net loss of $3.9bn. Mortgage originations grew 40% from the previous quarter, but losses remained heavy. GMAC's mortgage operations including Residential Capital lost a pre-tax $2bn in Q209, compared with $1.8bn in the year-ago quarter. The company said in the earnings statement that these losses were consistent with findings of the government's Supervisory Capital Assessment Program.
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