Curtain falls on Origin
Origin, the third-party mortgage funding arm of ANZ, will cease funding new loans from July 2011. The bank advised its dwindling client-base of this decision a few weeks ago.ANZ will honour funding for new applications until October 2011 and will consider top-ups of home loans beyond that date.The delivery rate to mortgage managers funded by Origin has increased by 39 basis points, in line with pricing of the rest of the bank's variable-rate home loans.The same pricing applies to one direct, the alternative home-loan brand that ANZ closed to new business late last year.