The High Court has temporarily frozen NZF Group's assets at the request of the receivers of its former finance company.

NZF Money's receivers are taking legal action against NZF Group and an unspecified number of its past and present directors alleging an insolvent transaction and are seeking to freeze its assets.

The smallest of New Zealand's home lending banks, HSBC, posted a $3.6 million loss for the December quarter due to ballooning charges for bad loan and its mortgage book shrank.

Depending on whether you can cope with some uncertainty, some of the NZX-listed bank debt issues look like raging buys at the moment.

The receivers of Allied Farmers's former finance company have granted it another year of life.

Credit growth remained minimal again in February with mortgage lending falling from January's levels, the latest Reserve Bank figures show.

Mortgage Link chief executive Rod Templeton is leaving the company in April after eight years at the helm and won't be replaced in what is clearly a cost-cutting measure.

Former NZF Group director Peter Huljich's family interests have been selling the company's shares, reducing their stake by a percentage point to 6.16% since late January.

The continually embattled NZF Group will probably have to convert its $18 million of capital notes to equity, swamping existing shareholders.

The Serious Fraud Office is investigating NZF Group with a primary focus on alleged related party transactions going back to 2006.

The Capital + Merchant Finance receivers representing its main banker are bowing out convinced Fortress Credit Corporation will be repaid in full the $23.74 million it is owed, including accrued interest.

Professional Advisers Association (PAA) members have voted unanimously in favour of measures to fast-track New Zealand Mortgage Brokers Association (NZMBA) members joining it.

NZF Money's debenture holders are likely to be repaid between 25 cents and 42 cents in the dollar of the $16.4 million they were owed when the company went into receivership on July 22 last year.

New Zealand Mortgage Brokers Association (NZMBA) members have voted overwhelmingly in favour of it being subsumed within the Professional Advisers Association (PAA).

Heartland New Zealand says now is the time to have greater control of the essential finance industry.

Rising wholesale funding costs obviously aren't hurting New Zealand banks because they have been lowering their fixed rate mortgages, said Jason Wong, head of financial markets intelligence at the Reserve Bank.