'Big two' still account for half of all nMB loans
By
Larry Schlesinger
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27/10/2009 9:25:00 AM
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1
comments
CBA and Westpac have lost some ground, but still continue to account for more than half of loans written by National Mortgage Brokers (nMB), according to its October Intell newsletter.
For August 2009, CBA accounted for 29.2% and Westpac accounted for 23.2% for a combined 52.4% of the nMB loan book.
This compares with a combined 55.3% for the 2010 year to date (CBA - 31.1%, Westpac - 24.2%).
Lenders to gain ground were ANZ, up to 12.9% (from 10.1% for the YTD) and BankWest which claimed fifth spot from NAB's Homeside with 5.28%.
nMB's fourth biggest lender was St.George, which saw a slight drop in business, down from 9.7% for the YTD to 9.1% for August.
With over 200 brokers, the nMB loan book provides a good snapshot as to the dominance of the 'Big two' in the mortgage space.
Related stories:
nMB sales jump 20% - Mortgage sales at aggregator National Mortgage Brokers (nMB) grew by $35m in May, year-on-year, according to its latest 'Intell' newsletter
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True Broker on
28 Oct 2009 09:13 AM
You're kidding me? 52.4% of their business written went to two lenders and they call themselves brokers. Should change their name to National Mortgage Agents for CBA & Westpac.