Macquarie Group has swelled its origination volumes by more than fivefold since July 2010, according to statements made at an investor presentation - just in time for the launch of its first mortgage-backed bond issue this year.
The non-major lender’s $500m residential mortgage-backed securities issue, from its ‘PUMA’ securitisation programme comes amidst a heavy influx of home loan-backed bond offers. Macquarie has reportedly grown its origination volumes less than $100m mortgages settled per month in July, 2010, to more than $500m in May, June and July this year.
However, according to the Australian Financial Review, the non-major lender’s share of the mortgage market (1.1%) remains a mere fraction of the major banks’, which currently control around 83% of all home loans.
Macquarie closed its PUMA mortgage-backed bond programme during the GFC, but reopened it in 2010, entering into partnerships with several other financial groups, including Mortgage Choice, Yellow Brick Road and Homeloans Ltd.