Aussie anticipates CBA mop up
Commonwealth Bank's ownership of Aussie Home Loans will "no doubt .. go to 100 per cent ownership" of Aussie, from 80 per cent, Aussie Home Loans chief, James Symond, told The Australian.Syomnd also told the newspaper there was no systemic mis-selling in the mortgage broking industry, and predicted brokers will expand their presence in the market to more than two thirds of all new loans, from around 50 per cent now.Aussie will also widen its network of stores from 205 to 300 by 2020, by which time its broker numbers would have expanded seven per cent to 1500, and its commission and loan servicing book hit $100 billion, Symond said.Symond said bank lending standards were the strongest he had seen in 25 years and customers were being assessed on interest rates of at least seven per cent.