The CEO of one of Australia’s largest mortgage aggregators looks back on a successful year that saw the group surpass a $50bn milestone.
Choice Aggregation Services managed to round ofF the 2016 financial year with a loan book worth $58 billion, making the NAB-owned group a significant player in the residential mortgage market.
Meanwhile, Choice CEO Stephen Moore explains that the group also hit a new milestone in settlements.
“We've now written $1.6 billion per month in settlements,” Mr Moore said. “To give you some context, we reached a billion dollars per month in settlements two years ago. There's very strong growth coming through.”
The group has also seen a significant increase in broker numbers, up by more than 25 per cent on 2015.
“We're now over 1,400 brokers, with 300 brokers, in fact 310 brokers, joining Choice in 2016,” Mr Moore said.
“From my point of view, probably the most pleasing thing about 2016 for us is the Choice member feedback. Choice members are telling us that they're really satisfied with the support that we provide,” he said.
One of the key benchmarks that's used in the industry is the net promoter score, or NPS.
In 2016 Choice achieved an NPS score of +27.
“That's a fantastic result, and it means that members are really valuing the support that we provide. That's probably the most pleasing thing for us,” Mr Moore concluded.
[Related: Aggregator sees 27% rise in broker numbers]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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