The total value of an aggregator’s loan portfolio has reached $70 billion, driven by a rise in loan settlements at four-times system growth.
Choice Aggregation Services has announced that the overall value of its loan book has surpassed $70 billion, as the size of its membership reaches 1,600 brokers.
Choice CEO Stephen Moore said the aggregator’s loan book growth has been driven by a sustained rise in membership numbers and ‘above system’ settlement growth.
“Our data shows Choice has experienced year-on-year growth across multiple fronts over the past five years including a 75 per cent increase in broker numbers, average growth rates of 10 per cent per annum in settlements and, a 9.5 per cent increase of its loan book,” Mr Moore said.
“Growth continues to outpace the market with settlements in the last 12 months growing by four-times system growth and the Book by two-times systems growth which are very strong results and something we should all be really proud of”.
The CEO of the NAB-owned aggregator also reiterated Choice’s commitment to its broker network and pointed to high satisfaction levels among members.
“We remain committed to our members, ensuring they are well-informed and equipped to deliver the best service and advice to their customers,” Mr Moore added.
“This sentiment is echoed by Choice’s latest satisfaction survey results which achieved a record-high Net Promoter Score (NPS) of +42, with more than half of all respondents frequently referencing the high level of support they receive and praising the strong leadership of the Choice team.
“We pride ourselves on upholding a family-like, inclusive culture and collaborative approach in the way we operate. This is in my view, one of the key reasons why Choice continues to attract brokers and other financial services professionals looking to make the switch to mortgage broking.”
Mr Moore also claimed that Choice is “uniquely positioned” to help brokers maximise their potential.
“We support our members through an extensive professional development program incorporating commercial business development days, peer-to-peer learning workshops and Lender Expos which allow knowledge sharing and capacity building,” the Choice CEO said
“Our network of experienced partnership managers also works closely with our members across the country, to develop and implement tailored business strategies and processes.”
Mr Moore concluded: “In an environment of industry change, now more than ever brokers need an aggregator they can trust to support them in navigating these changes.
“Going forward, it is crucial brokers are supported to help them stay across the relevant themes and issues impacting both the industry and their customers, now and into the future.”
[Related: Aggregator reports 26% growth post-merger]