Mortgage group increases loan settlements by over 500%

by Julia Corderoy10 Mar 2015
Yellow Brick Road (YBR) increased its home loan settlements by more than 500%, following its aggressive acquisition push last year.

After acquiring major aggregator Vow Financial and major mortgage manager Resi Home Loans in May and July respectively last year, YBR increased its mortgage settlements by 514% in the six months to December 2014, compared to the same period in 2013.

The mortgage and wealth planning company’s loan book also increased by a massive 1154% over the same period, according to YBR’s half-yearly results.

When the performances of Vow and Resi are included – before they were acquired by YBR – the growth sees mortgage settlements up 52% and the loan book up 21%.

The results also revealed that the Group’s overall product income increased by 74% as YBR’s Macquarie Bank white label product expanded into the Vow and Resi networks and Resi branded mortgage products were offered through YBR branches and Vow brokers.

While the YBR Group has a strong east coast presense, the results hinted that there will be a strong focus on recruitment in South Australia and Western Australia over the next six to 12 months.