​Non-bank lender eyes up mortgage distribution channels

by 05 Dec 2013
Resimac has revealed it plans to expand its involvement in the broker space by purchasing distribution channels.

According to the non-bank lender’s 2013 financial report, Resimac wants to “own distribution channels” to gain better control of its “destiny”.

The statement follows a spate of lender investments in the broker channel, including Macquarie Bank’s recent acquisition of a 25% stake in Connective.

Resmiac’s loan book is currently valued at $3.2 billion. This is a drop of $1 million from last year, despite the lender’s recent expansions into the mortgage industry.

Last month Resimac finalised a scheme of arrangement to acquire RHG’s mortgage portfolio, with an estimated size of $2 billion.


  • by Calvin 5/12/2013 10:18:31 AM

    Hear this lot already have significant shares in 1300homeloans, finsure and loan kit. The industry dream team..

  • by Patrick McMenamin 5/12/2013 10:35:07 AM

    Whether you own an aggregator or not is immaterial, there is a requirement for brokers to ensure a product is not unsuitable. Vertical integration which results in product preferences over customer needs is now being examined in the Financial Planning industry. Distribution advantage requires a competitive product and good service, ownership without that is an utter waste of capital.