Broker hits record loan settlements

by 02 Jul 2012

A national broking group hit a record in loan settlements last financial year, and is gearing up for an even bigger 2012/2013.

National Mortgage Brokers, recently acquired by Aussie Home Loans, has hit a record in loan settlements over $2.2bn, up from $2.05bn last year, with book growth at nearly 10% to $8.5bn.

Managing director Gerald Foley said that many of its brokers had experienced their personal best months or year during the period, helping boost NMB's fortunes.

"In recently talking to a number of our “PB” brokers, it is clear their current activity levels are off the back of doing many things right within their business, over a sustained period of time," Foley said.

Foley said the future was equally bright, with market conditions playing into the broking proposition.

"I feel that in recent times the banks, whilst continuing to dominate share, are becoming less favoured as a direct source of financial advice and assistance. Customers are now seeing a greater divergence in pricing, lending policies and service. This feeds right into the broker proposition," he said.

Foley said Aussie would soon complete its acquisition of NMB, and that he expected this would create opportunities for NMB to continue to grow through tapping Aussie's resources.

Related stories:

Aussie's NMB buy just the beginning

COMMENTS

  • by Tom 4/07/2012 1:20:56 AM

    I reckon once Mr Foley completes his transaction with Aussie, nmb will be THE aggregator to watch. Am tired of the lack of support from connective in Qld and am already making my own enquiries with these guys.

  • by Jason 4/07/2012 2:14:16 PM

    I hear you Tom.