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ANZ selling more mortgages

22/02/2010

ANZ is trying to boost its share of the home loan market. Leading mortgage broker, Mortgage Choice, reported that they originated more loans for ANZ in January than any other bank.

ANZ’s new retail banking chief, Phil Chronican said the bank had tightened eligibility criteria for loans in 2009 and that allowed CBA and Westpac to grab market share.

Mr Chronican said ANZ was now "selectively easing" lending criteria and upgrading its mortgage processing capacity. “We will take a more flexible approach to lending, particularly with existing customers who have consistent track records."

Mr Chronican has also established a special team of executives to improve the group's mortgage processing system.

Source: Herald Sun



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