Wholesale lender responds to COVID-19

Group makes clear broker trail commissions won't be affected by customer entering repayment pause

Wholesale lender responds to COVID-19


By Madison Utley

One of Australia’s largest distributors of white label home loans yesterday announced a series of business updates, including the appointment of a new executive and the group’s response to COVID-19.

Advantedge Financial Services has formally appointed Adam Brown as general manager.

Brown has held a variety of senior positions at NAB and Advantedge, which is part of the NAB Group. He has 20 years of industry experience in sales and distribution, operations, technology and risk management.

According to Brown, Advantedge will focus on simplifying its offering moving forward during this unusually complex and uncertain time.

“The range of enhancements being introduced will further streamline broker processes and provide more value and support to both brokers and their customers,” he said.

Former GM Brett Halliwell has transitioned to a new senior leadership role.

“Adam’s appointment comes at an unprecedented time where expert guidance is more important than ever, and his in-depth knowledge of white-label mortgage products will continue to support positive outcomes for brokers and their customers well into the future,” said NAB EGM of enablement, strategy and transformation, Anthony Waldron.

Advantedge also announced it is offering eligible customers a repayment pause on their home loan for a two to six-month period, regardless of whether they’ve paid ahead.

“Whether it’s reducing minimum monthly repayments through competitive rates or pausing repayments for the time being, we’re committed to helping customers in any we can,” said Brown.

“We are also determined to support brokers through this period, and trail commissions will not be affected by a customer entering a repayment pause.”

In response to broker feedback, Advantedge has also introduced a simplified fee structure, removing both the annual fee and a number of post settlement administration fees.

Lastly, the group has been ramping up its digital capabilities, including the launch of a new digital upfront signing technology, known as e-Sign which allows brokers to complete and sign forms digitally. When coupled with electronic signing capability offered by MSA with DocuSign for loan contracts, this update has enabled an end-to-end digital loan submission process.

“We continue to invest in improvements to simplify our offering and enhance our digital capabilities to make life easier for brokers and their customers at a time when they need it most,” said Brown.

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