MA Money is on a roll, leaning into the broker channel to boost its loan books.
The non-bank arm of global alternative asset management firm MA Financial has grown its loan book by $1 million in the space of a few months to $4 billion. That's up from $3 billion in loans under management this past May, or $2 billion in December 2024.
Chris Wyke, joint chief executive officer of MA Financial, said the milestone is "a testament to our strong partnerships with brokers and the disciplined way we’ve scaled the business.
“We’ve kept our promise to keep things simple for brokers, deliver fast and consistent credit decisions and invest in the tools and people that make their experience better," he said. "We're confident we can continue to support brokers to diversify and grow their businesses with us."
MA Money's growing business comes as some lenders in Australia's loan markets are retreating from the broker, third-party channel. MA Money, by contrast, is leaning in, harnessing the broker channel to drive growth.
“Nearly 80% of home loans in Australia are now written through brokers, and customers rely on their broker to find the right lender and make the process easier," Tim Lemon, MA Money's national sales manager, told Australian Broker. "That’s why we’ve focused entirely on the broker channel. The growth we’ve achieved – doubling our loan book to $4 billion in nine months – is proof that when you back brokers and make their job easier, the business follows.
“Lower interest rates and greater certainty around the economy are giving borrowers more confidence, and we’re also seeing strong demand from self-employed customers," he said. "At the same time, more borrowers are choosing to go through brokers, which has helped drive our growth. Being nimble enough to recognise different income types – whether from bonuses or a second job – also allows us to support more borrowers through our broker partners.”
The non-bank's gameplan includes investing in technology and talent. Earlier this month, MA Money hired former RedZed BDM Craig Stuart in a newly-created role to lead its soon-to-launch commercial division next month. That includes a new commercial self-managed super fund (SMSF) loan as the growing SMSF industry turns 18.
Lemon described the onboarding of Stuart a "strategic move" that will "ensure brokers and their clients will have access to the same service excellence in the commercial space."
On the technology front, the non-bank rolled out the automated loan origination platform Cinch in March. Then in July, MA Money started using NextGen’s loan application platform ApplyOnline. Both pieces of technology are meant to streamline the application process for faster approvals.
Lemon said MA Money continues to invest its "energy into making the process as simple and fast as possible.
“Alongside our new commercial loans, we’re expanding with SMSF commercial loans and bridging loans," he said. "And we’re always refining our products and policies based on broker feedback. So there’s more to come."
MA Money was established in 2004 and works in residential home loans.
Meanwhile, momentum at MA Financial shows no signs of slowing down anytime soon. The parent company scooped up Melbourne-based real estate investment manager IP Generation (IPG) for more than $90 million in May. That same month, MA Financial joined forces with US-based middle market lender Monroe Capital and Japanese financial services giant Sumitomo Mitsui Banking Corporation (SMBC) to form a $1.7 billion USD joint venture. The trio plans to offer senior secured loans to US-based middle market companies by way of the venture.
Sydney-headquartered MA Financial's portfolio of companies also includes Middle, an online home loan application platform; and aggregator Finsure.
