They cant handle the current discharge volumes and have been under resourced ( like almost all lenders at the back end). Many will give up simply because they cant get their mortgage released.
Moving mortgage backed loans aint so simple, and the various proponents of this idealogy often dont see what they are promoting. As a broker youd think I love the idea, but the reality is it often doesnt serve the borrower.
8 mths ago the same crowd said move from WBC to CBA.................now its from CBA to XYZ .
Until the dust settles middle term, most ( but not all ) MAY be best served to stay put, and not spend X dollars to go from bull shark to white pointer
Having said that there is already some cannibalization of CBAs book going on by one of its owned entities. BWA are doing some pretty aggressive stuff on intros with nil app fees with a nice 95 % IO with offset.
ta
rolf