Westpac increases in house home loan originations to 36 percent
Westpac has raised its proprietary mortgage lending share to 36 percent over the full financial year as the bank aims to grow in house originations.
FTMQ Real Estate, written by our newsroom0 views
Westpac increased the proportion of new home loans originated through its proprietary channel to 36 percent for the 12 months to 30 September, according to Mortgage Professional America. The figure represents an increase from 33 percent recorded in the previous year. [1]
Mortgage Professional America reported that the bank's proprietary share reached 37 percent during the second half of the financial year. Mortgage brokers continue to account for the majority of the lender's Australian residential business, originating close to two thirds of new home loans across the full year. [1]
Lifting the proprietary share of new mortgage lending has been a strategic objective for the lender, which previously reported a proprietary origination rate of 34 percent. [1]
Westpac was originally founded on 8 April 1817 in Sydney as the Bank of New South Wales, making it the first permanent bank in Australia. [3]
In short
- Westpac raised its proprietary new home loan share from 33 percent to 36 percent for the 12 months to 30 September.
- The bank's proprietary mortgage origination share reached 37 percent in the second half of the financial year.
- Mortgage brokers originated nearly two thirds of Westpac's new Australian home loans over the year.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Westpac lifts proprietary mortgage lending as margins narrowMortgage Professional America, 2d ago (the report this story comes from)
Background
- [2]United Kingdom insolvency law on Wikipedia
- [3]Westpac on Grokipedia
Our newsroom writes these reports with the help of software, from the 3 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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