Third, the level of seasoning in non-bank deals has also fallen (Graph 12). In other words, their loans are newer than in the past and newer than for the bank securitisations. The fact that non-banks are bundling up mortgages more quickly into securities suggests that they are writing loans more quickly and, therefore, reaching the limits of their warehouse facilities.
https://www.rba.gov.au/speeches/2019/sp-ag-2019-03-19.html  11/19  3/19/2019  Bonds and Benchmarks | Speeches | RBA  Graph 11  Graph 12  https://www.rba.gov.au/speeches/2019/sp-ag-2019-03-19.html  12/19  3/19/2019  Bonds and Benchmarks | Speeches | RBA  In summary, over the past year or so, well-rated corporations – both in and outside of the financial sector – have been able to source funding in bond markets.