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Aussie's ANZ funding request declined

Staff Reporter 3 minute read

ANZ has knocked back Aussie Home Loans request for $2 billion in funding.

According to a Fairfax report, the brokerage is currently looking to diversify its funding sources after it was reported that CBA was unable to fully meet its Aussie's funding needs.

"It's healthy to have two main funding suppliers, just in case one changes its funding policies," Aussie chairman John Symond told Fairfax.

Speaking about ANZ, Mr Symond said the bank had told the mortgage broker that “they couldn’t deliver the funding”.

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"We've been out there trying to get as much funding as we can – we are still part-funded by Commonwealth Bank, but we're looking for billions more."

The rejection follows a reduction in loan volumes over the past two months from about $1 billion per month to about $850 million.

Aussie formed a strategic alliance with Origin, ANZ's wholesale mortgage funding business, back in 1999.

Aussie's ANZ funding request declined
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