Earlypay chief operating officer Paul Murray will take on the additional role of chief financial officer, following the resignation of CFO Steve Shin. Earlypay has been in turmoil since its largest borrower, RevRoof, went into administration in December, owing Earlypay A$29 million. The company has reviewed its lending processes and data systems since then. Murray was CFO at Household Capital before joining Earlypay, and before that was head of corporate strategy at Legal and General Investment Management in London. Great Southern Bank has raised A$750 million of funds via an issue of residential mortgage-backed securities. The transaction was upsized from $500 million at launch and the senior notes were priced at a margin of 130 basis points over the one-month bank bill swap rate. Great Southern retained the subordinated notes, with the option to sell them later when spreads are more attractive.