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While the major players like Aussie and Mortgage Choice continue to dominate the top of the table, this year’s ranking saw eight new entrants.
Online broker iSelect, Green Finance Group, Finance365, Strategic Investor Group, MCP Group, Finance Detective, Option Finance Australia and Moneywise Global Home Loans were all new additions to the 2017 ranking.
Data collected from the 25 groups was based on the 2016 financial year — a period of significant growth in home lending supported by a buoyant real estate market.
Aussie managed to retain its position as the number one brokerage in Australia, with more than $18 billion in volumes over the 2016 financial year. The group now boasts a loan book of $63 billion.
Melbourne-based brokerage RateOne and Sydney-based N1 Loans saw the biggest improvement in this year’s ranking. Both brokerages moved up nine places from last year. iSelect was the highest placed new entry, jumping into the 2017 ranking at 13th place.
Collectively, the Top 25 have built a loan book valued at $198.7 billion, up by 4.6 per cent from last year. Total volumes slipped marginally by 1.03 per cent and broker productivity fell significantly — down by 10.23 per cent.
Non-franchise brokers continue to be significantly more productive than their branded counterparts. This year, collective non-franchise broker productivity was $24.8 million, while the average franchise broker wrote $17.2 million.
The number of brokers has increased by over 10 per cent this year, indicating that the 162,519 loans settled over FY16 (down by 1.9 per cent) are being spread among more loan writers.
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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