ANZ team to fix mortgage problems

10/03/2010

ANZ Bank has established a specialist team of bank executives to fix problems affecting its mortgage processing systems. ANZ has recently moved to outsource home loan settlement functions to Perpetual.

Recently ANZ's head of mortgages, Michael Bock, acknowledged that ANZ’s settlement procedures had caused inconvenience for solicitors and parties involved in property transactions. "It is clear from feedback from the profession that the changes we introduced to our settlements process have caused frustration and, in certain circumstances, significant inconvenience for some solicitors, conveyancers and clients - and we sincerely apologise," Mr Bock told the Law Institute of Victoria.

"We are working hard to fix these problems ... We understand your concerns, and ANZ is committed to making the necessary changes to ensure we meet your needs and clients' expectations for timely and efficient settlement of all purchases and discharges." ANZ plans to improve performance by increasing phone contact staff and investment in new technology.

Source: Herald Sun