ANZ to sell off Origin
ANZ will sell its wholesale distribution business, Origin Mortgage Management Services (Origin), to Columbus Capital.
The sale is aligned with ANZ's strategy to focus on growing its own branded mortgage products.
Columbus Capital will receive transitional services from ANZ for up to 12 months following the sale, with the impact on existing borrowers expected to be minimal.
Origin has a network of mortgage managers who provide funding for approximately $2.2 billion of residential mortgages.
The sale will be finalised in the next few weeks.
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