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And I, for one, welcome our new insect overlords. I'd like to remind them that as a trusted banker, I can be helpful in rounding up others to toil in their underground sugar caves.

Never done no doc or >100% and there aren't NINJA loans in Oz. All that said, I'm one of those old fashioned "yez makes yer beds, yez lies in it" types of guys...both for the user and supplier. I wouldn't do a no doc but there are some that did and plenty of borrowers (speculators mainly)...

There's nothing "new" insofar as the new data is no different to that already supplied by the borrower in their application. It simply allows the lender to check the veracity of the statements made. I wouldn't blame the GFC. Blame borrowers who lie, get themselves into strife and then call...

The US issue was caused by stupidity, not credit reporting/scoring regimes. When there are institutions buying debt supported by an asset class they are convinced will always increase at a rate greater than their debt, they do stupid things. When there are mortgage originators that can...

Better info = better decisions = fewer bad loans = more support for good borrowers AND better shareholder returns. Everyone's a winner!

Better information will mean lenders will have more confidence in some borrowers(and therefore be more inclinded to provide preferrable terms) and less confidence in others. Of course, if you felt obliged to fudge the facts to get your loan, you'd be worried, but I'm sure there's no-one like...