NMC to service new LJ Hooker lending

by BN26 Oct 2012

LJ Hooker will now have its white label product serviced by mortgage manager National Mortgage Company.

The group said that it had chosen National Mortgage Company as its administrator on LJ Hooker branded white label product to allow it to continue to provide customers with funding options under its own brand and improve on its service.

Previously, loans were serviced by Firstfolio, which has seen multiple CEO changes in the past 6 months, including the ousting of Mark Forsyth.

LJ Hooker head of finance Peter Bromley said NMC service included 12-hour turnarounds from the initial credit assessment.

As part of the change, LJ Hooker Finance will be rebranded as LJ Hooker Home Loans, with the group planning to open special LJ Hooker Home Loan centers across Australia to raise it's profile.

LJ Hooker chief executive George Chmiel said the market share of LJ Hooker's home brand product was "significantly above industry average", showing how important it was to the business.

"With NMC we will be able to enhance our white label program and further grow our market share," he said.

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