Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Bluestone servicing business boosts strong group earnings

Staff Reporter 1 minute read

Bluestone Servicing, Bluestone Group’s newest business, has proven a success in its first six months of operation the organisation has reported.

The back-office processing company generated a total of $5 million in gross revenues – representing 14 per cent of Bluestone Group’s total earnings for the six months to December 2007.

Bluestone Servicing forms part of a core strategy by the group to diversify its income stream away from pure origination.

“As Bluestone grew, we recognised an attractive opportunity in developing our own servicing capabilities, so we have made a substantial investment in both capital, expertise and technology to develop BOSS – the Bluestone Origination and Servicing System,” said Bluestone Group CEO Peter McGuiness.

“This latest initiative further underpins our strong position in the specialist mortgage market and should enable us to share our back-office expertise for the benefit of the wider lending sector,” said Mr McGuiness.

 

Bluestone servicing business boosts strong group earnings
default
TheAdviser logo
default

 

more from the adviser
ASIC TA ASIC to update ACL process following security breach

The financial services regulator is working on “alternative arr...

money au ta Lenders extend cashback offers

Several lenders and their subsidiaries have extended their cashba...

ren wong N1 pivots to become SME lender

Diversified broking and non-bank lending group N1 Holdings has an...

FROM THE WEB