Mortgage manager acquires new loan portfolio

by Miklos Bolza11 Nov 2016
Queensland-based mortgage manager Future Financial has announced the recent incorporation of fellow mortgage manager Pioneer Mortgage Services.
 
This move comes a few months after Future finalised a merger with Iden Group – expansion which allows the company to “take advantage of new market segments,” general manager Troy McLachlan said at the time.
 
By integrating both Future and Pioneer mortgage portfolios, this provides Future with an opportunity to enhance its position in the market, McLachlan said.
 
“The mortgage landscape is continually changing, and it’s increasingly important for a business like ours to diversify our loan and operational portfolio if we wish to remain competitive.
 
“We are always on the lookout for growth opportunities, and whilst other offers have presented themselves in recent months, we determined that the Pioneer portfolio provided the greatest scalability opportunities for both the operational and financial aspects of our business right now.”
 
McLachlan said that it was important that brokers and customers of Pioneer experience “business and usual” despite the integration.
 
“They will continue to receive the same high quality service that they’ve come to expect over the years, with the added benefit of additional resources and systems from the Future Financial Group.”
 
The incorporation of the Pioneer and Future mortgage portfolios was finalised yesterday (10 November).
 
Related stories:
 
Mutual lenders in merger discussion
 
Non-banks announce major merger
 
Macquarie acquires billion dollar mortgage book

COMMENTS

  • by Laughable 11/11/2016 10:32:39 PM

    There are only so many mergers for these mortgage managers. Fighting a losing battle. Interested to see how long they all last.