Mortgage Connect aims for 130 territories
St George Bank said the size of new home loans sourced through the branch network and direct marketing increased by 15 per cent in 2006 over 2005 and that settlements from this channel increased by 13 per cent. The bank said the size of new loans sourced from brokers increased by 8 per cent. St George said it would have hired 80 of a planned 130 franchisees for the bank's “Mortgage Connect” initiative by September 2007, with the remainder selected by September 2008. Mortgage Connect will complement the bank's existing in-branch network, with operators working defined territories and marketing only St George Bank loans.