More revelations of wrong doing after the RAMS home loans debacle. DEI hires and the Anthony Miller regime are coming undone with more regulatory penalties mooted and Project Sentinel about to explode the careers of the existing much maligned Westpac executives including Anthony Miller. See headline from AFR below.

Westpac launches internal home loan fraud probe after RAMS closure

Westpac is conducting a deep dive review of mortgages the bank originates inhouse, as it seeks to ward against potential loan fraud and pinpoint any anomalies if customers lie or fabricate information on applications.

The sweeping internal project, dubbed Project Sentinel, includes an assessment of a portion of home loans that are written by the bank’s own staff rather than by brokers, according to two people briefed on the program who requested anonymity to discuss the matter. It comes amid heightened industry concerns about home loan borrowers lying or misrepresenting income and other crucial information in mortgage applications.

Asked about Project Sentinel, a Westpac spokesman said the bank had “rigorous controls” and often reviewed risk management practices. “This approach has ensured ongoing strong asset quality and low delinquency and impairment rates among our mortgage customers,” he added.

The risk of regulatory penalties remains, alongside a class action launched by a group of franchisees who claim they were unfairly terminated. The bank has previously argued the terminations were warranted due to suspected and alleged anomalies in loan applications relating to RAMS mortgages.

Embattled Westpac Chairman Steven Gregg must be about to get his Board of Directors to force out all or most of the existing executives under Anthony Miller given the hire of the CFO from NAB. Ryan Zanin, the Chief Risk Officer must surely be sacked or forced to resign. Anthony Miller must be close to being thrown out as well.