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Ok, Let me see if I can respond to your points... A couple of reasons come to mind; 1) Does not fit their acceptance criteria, which may include; - an applicants asset/liability ratio - LVR requirements - type of income (self employed etc) 2) They may qualify for a standard loan...

Hi Sean, Here's one way to look at wrapping. Many Australians have purchased a home with a loan from a bank. At present the interest rates charged by first tier lenders are around 8-9% and while high, people pay it. But the banks buy this money via securities for a lower rate. In effect...