FASTLend grabs market share
By
Barney McCarthy
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23/07/2010 5:55:00 AM
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3
comments
FAST chief executive Steve Kane has told delegates at the aggregator's Business Excellence Conference that take-up of its white-labelled FASTLend product has exceeded expectations.
FASTLend was piloted to a panel of 50 brokers in February before full launch in March and Kane had targeted a top 10 position among the top mortgage lenders by the end of June 2010, but $60m a month in applications has seen FASTLend jump to 8th position behind the big banks.
Delegates at the conference in Palm Cove, Queensland - which includes FAST's top-performing brokers from each state - have also listened to presentations from a number of leading lights from the world of business, including economist Phil Ruthven and founder of pizza chain Eagle Boys' founder Tom Potter.
Latest Comments
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3
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graham on
24 Jul 2010 06:22 PM
It looks like "FAST Aggregation" (owned by NAB via Advantedge)is evolving into a "Super Mortgage Manager".
If FAST brokers are selling $60M a month of their own branded home loan (funded via Advantedge - Owned by NAB), one would need to question why bother having other lenders on their lending panel.
I dare say it is only a matter of time before lenders on their panel withdraw as clearly FAST are biased to their FASTlend products, whereas previously they just operated and specialised as an aggregator.
Dave on
26 Jul 2010 03:01 PM
Well Graham that is one hell of an assumption. Conspiracy theorist are we?
SteveOz on
26 Jul 2010 07:23 PM
WHats wrong with being a conspiracy theorist? Just shows he thinks at least, rather than being a sheeple! However, why wouldn''t you support your own brand? Keep it in the family so to speak, even if your familiy really hates you and is just abusing you while it suits them (NAB that is!!)