Business
Why mortgage deferrals are a ticking time bomb – NEWS.com.au
Why mortgage deferrals are a ticking time bomb
In the classic fairytale Cinderella, the fairy godmother turns Cinderella into a princess with her magic wand but only until the clock strikes midnight.In many ways Prime Minister Scott Morrison and the banking regulator APRA have acted like a fairy godmother for the nation’s mortgage and SME (small and medium enterprise) borrowers.
They’ve used their magical abilities to change otherwise concrete rules surrounding financial regulation and loan repayments, to make bad loans good and offer an unprecedented…
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