It's a sad sad day in South African today, where the banks have officially closed the doors on bond originators. As of 12:00am this morning ABSA, STD, FNB & NEDBANK are no longer paying commission to bond originators for business brought to them...
This statement not yet released to the public means companies like, Bond Choice, MortgageSA, Ooba, Wizard Home Loans and other will need to rely on companies that offer securitization such as SA Homeloans.
It's a move that has everyone flabbergasted.
We need to start a petition, any suggestions?