The number of banks reporting any income from sales, securitization, or servicing of mortgage loans has shown a substantial increase since 2007, with much of the entry occurring as the recession ended in the first half of 2009. Recent quarters have seen the entry of about 30 additional banks.
It is a pleasure and a privilege, especially in front of such a large and important audience who impact the lives and financial security of so many New Zealanders. It is also timely to chat about financial issues given it is ‘Money Week’, the annual awareness week championed by the Commission for Financial Capability.