Westpac has begun the process to sell its RAMS home loans portfolio, according to the AFR.
The business was up for sale early last year but failed to find a buyer.
In May 2024, former franchisees launched a class action over terminated franchise agreements. Three months later, following a strategic review of the business Westpac closed its RAMS business to new home loan applications and retained the mortgage loan portfolio.
In June this year, ASIC announced it was suing the RAMS group, alleging misconduct by franchisees and staff.
The RAMS group was founded in 1991 and sold to Westpac in 2007.
