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Westpac today announced that it had completed funding arrangements for RAMS Home Loans up to $500 million.
The funding arrangement, which came into effect today, will be provided by a warehouse facility and will fund all new loans settled by RAMS until Westpac’s acquisition of RAMS’ distribution business is complete.
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Westpac’s funding will cease if shareholder approval is not obtained at the RAMS AGM held on November 26.
