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St George branch network to help clear broker processing backlog

Staff Reporter 1 minute read

St George has commenced directing third-party channel loans to its branch lenders as slow turnaround times continue to plague brokers' businesses.

In a communication delivered to brokers last night, Steven Heavey, St George head of third-party, said 2,000 PAYG files will be sent to the bank’s branch network in order to clear its processing logjam.

Mr Heavey emphasised that the brokers would retain contract ownership of the files and that the branch network lender would communicate only with the broker, not the borrower.

The bank will also continue to recruit processing staff and employ extended hours in order to cope with growing volumes.

“I believe you will start to see a remarkable improvement in our turn-around times over coming weeks,” Mr Heavey said.

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St George branch network to help clear broker processing backlog
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