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Aussie posts $20bn settlement record

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Huntley Mitchell 4 minute read

Settlements for Australia’s largest mortgage group have reach a new high as it continues to invest heavily in technology to improve its customer service proposition.

Aussie Home Loans posted a record $20 billion in home loan settlements across the group in 2014-15, including $16.8 billion through its brokers and franchise stores.

The group’s stellar year was capped off with $1.98 billion in settlements for June, which included wholesale aggregator nMB, with Aussie’s retail channel settling more than $1 billion in loans for the first time.

Aussie said its loan book (including nMB) is nearing $70 billion, and its branded home loan products are currently the most popular among borrowers.

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Chief executive James Symond said Aussie has achieved all of its “ambitious” growth targets for the year, with its retail and mobile broker channels reporting record lending volumes.

“Aussie also reached an important milestone in our 23-year history, employing our 1,000th mortgage broker, while we have just opened our 175th purpose-built store. The mobile mortgage broker channel is also going full steam ahead, settling a record $600 million in June,” he said.

“Borrowers are flocking to property during the current historic low interest rate climate, which I believe is set to continue for the foreseeable future.”

Mr Symond said Aussie was continuing to invest heavily in technology and customer service to improve customer experience and productivity, with one example being its plans to open an in-house customer service centre in October.

“In this increasingly competitive home loan market, we need to deliver the best customer service proposition possible to our customers and brokers across all areas of our business, and have determined our own customer service centre based in Sydney will contribute to achieving this goal,” he said.

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[Related: Aussie recruits 1,000th broker]

Aussie posts $20bn settlement record
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