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Housing Finance has come out to fight claims that its chief executive officer overruled his credit team to award loans that had earlier been declined. HF Group Chairman Steve Mainda said in a statement on Tuesday that its loan approval process is foolproof while dismissing allegations that its top executives awarded loans under unclear circumstances.
Responding to claims that HF Group Managing Director Frank Ireri overruled his employees and approved loan applications earlier declined, the chair said HFC Ltd, as a regulated entity, has very clear credit policies and an approval matrix approved by the board, which has always been followed to the letter.
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