The take-up of Macquarie's new packaged product suite has been "more than encouraging", according to one of the bank's executive directors.
Frank Ganis told Broker News that the statistics the bank has seen in the six weeks since the large-scale launch of its Mortgage Solutions products were "very good", after a short familiarisation period. While he declined to comment on exact numbers, he did reveal that sales had been "more than encouraging".
Ganis added that the rollout of the suite had been successful, with "all major broking houses" signed on to distribute the packaged mortgages, which include options such as a platinum credit card and mortgage insurance.
He added that Macquarie was also very pleased with the final outcome of its recent RMBS issue, which was increased from $500m to $750m due to demand. Over two-thirds of the securities were bought by a mix of institutions and financial houses, with the remaining $247.5m purchased by the Australian Office of Financial Management.
Ganis was also positive about the state of the RMBS market in general.
"While we're not at the levels we were seeing a few years ago, there is a good, healthy stream of deals coming onto the market, and it's encouraging that there's been a number of issuances in the calendar year which have all been well-supported."
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