Rabobank Plans to Centralize Mortgage Lending, Volkskrant Says

Rabobank Groep (RABO) plans to begin evaluating mortgage loan applications at the corporate level rather than at the group’s member banks, Volkskrant reported.

The move announced yesterday by the bank is a consequence of a 2009 investigation of the country’s four biggest mortgage lenders by the AFM, the Dutch financial markets regulator, which had fined Rabobank 150,000 euros ($197,000) over granting excessively high mortgage loans, the newspaper said.

To contact the reporter on this story: John Buckley in Amsterdam at johnbuckley@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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