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Industry speculation is mounting that GE Capital could be set to sell its remaining $5 billion portfolio of mortgages.
The rumours gathered momentum yesterday as various companies were named in connection with the sale.
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Those companies included Pepper and the Commonwealth Bank of Australia, as well as other non-bank lenders.
But despite the growing speculation, GE remained tight lipped, with a company spokesperson telling The Australian that GE refused to comment on “industry speculation”.
GE enraged brokers, originators and borrowers when it abruptly exited the mortgage market in late 2008 and refused to reduce its home loan rates in line with a plummeting cash rate.
Speaking at the time of the company's exit, GE Australia and New Zealand chief executive Steve Sargent said GE had moved quickly and aggressively and would not look to "re-enter the mortgage market” down the track.
“We won’t be getting back into mortgages while I’m around,” he said
