CBA most efficient.
An article in The Australian today has the CBA claiming “the mantle of the most cost-effective home loan processor…”
Certainly the reduction in processing centres from 17 to 12, with the probability of this reducing to 8 in the next couple of years, would help the efficiency. At a very basic level, just the resultant reduction in overheads, eg rent, staff numbers, would have a positive effect on the bottom line.
While on the subject of the CBA it is also interesting to note the speculation that they have been speaking with American based Fannie Mae.
Fannie Mae is the common name for the US Government backed Federal National Mortgage Association. They currently have a site in the US called Homepath.com, which deals with on line loans, among other things.
Executives at the CBA have been linked with the registering of the Homepath name in Australia.
We believe this to be a good alliance on CBA’s behalf……assuming the speculation is correct.