GE Money in limbo as CBA cherry-picks Wizard loans, drops rate

Posted by admin on February 25th, 2009 filed in Uncategorized

Commonwealth Bank of Australia (CBA) says it will acquire a $2.25 billion portion of Wizard Home Loans’ portfolio from GE Money. GE Money’s Wizard Home Loans subsidiary was sold to John Symond’s Aussie Home Loans and CBA – a 33 per cent shareholder in Aussie – on Christmas Eve. The sale followed seven months of [...]