The sale is seen as part of the company’s strategy to wind down its business from these markets given high cost of funds.
According to media reports, non-bank lender Pepper Home Loans, National Australia Bank, Commonwealth bank of Australia and Colombus Capital, are among final bidders.
A consortium led by Pepper Home Loans is said to be front runner, ahead of Commonwealth bank of Australia.
Reports also suggest that the GE Capital portfolio could also be split between several lenders.
After the sale of mortgages, GE Capital will be left with asset finance and leasing and corporate finance in Australia.
