Dec 14 (Reuters) - Westpac Banking Corp WBC.AX :
* TO COMPENSATE CUSTOMERS WHO HELD ONE OF 13,000 OWNER OCCUPIER INTEREST ONLY VARIABLE HOME LOANS AFFECTED BY MORTGAGE PROCESSING ERROR
* ESTIMATED REFUNDS FOR OWNER OCCUPIER CUSTOMERS ARE EXPECTED TO BE $11 MILLION, WHICH WAS INCLUDED IN CO'S FY17 FINANCIAL RESULT
* IS ALSO REVIEWING INTEREST ONLY INVESTOR LOANS THAT MAY HAVE BEEN IMPACTED BY THE ISSUE
* EXPECTED REMEDIATION PROGRAM FOR ALL CUSTOMERS WILL TAKE AROUND 12 MONTHS TO COMPLETE
* ERROR PREDOMINANTLY AFFECTS LOANS WITH AN INTEREST ONLY PERIOD THAT EXPIRED BETWEEN 2009 AND 2016