the adviser logo

Sacked mobile lender speaks out

by Staff Reporter8 minute read
The Adviser

A former mobile lender with CBA, Graham Lynham, said he has been made a scapegoat for the bank’s involvement in the collapse of Storm Financial.

On Friday, Mortgage Business reported that CBA had dismissed Mr Lynham after he came under scrutiny from the Australian Securities and Investments Commission (ASIC) in a seven month-long investigation.

Mr Lynham today told The Australian Financial Review that he did not receive any reasons for his dismissal but rather was given “a four-line letter confirming the decision”.

Mr Lynham admitted to short comings in his lending practices but said he was forced to work “extreme” hours, managing 6,000 clients with little in-house support.

“My departure from CBA relates to a number of allegations made by the bank that I contravened the CBA’s policy and procedures. In my detailed response to the allegations I emphasised the constant pressure which I was under and the large number of home loan applications I was dealing with each week,” he said.

“I accepted as part of my response that I did make mistakes in relation to some files but that my motivation was always to provide my clients with the best service possible.”

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more