AMP Bank has acquired Nano’s residential mortgage portfolio, adding approximately $400 million in loans to its residential mortgage book.
The book mainly consists of owner-occupied, principal, and interest loans with strong credit quality.
The acquisition delivers on Nano’s strategy to focus on being a provider of technology rather than a home loan provider.
Nano customers will transition to AMP in March on a comparable product and maintain their current interest rate.
The post AMP acquires Nano home loan book appeared first on Professional Planner.