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.

Strong growth for major aggregator

Staff Reporter 3 minute read

Despite depressed national home loan figures, Choice Aggregation Services (Choice) has reported an increase in volumes.

According to new chief executive Brendan O’Donnell, the aggregator saw a 15 per cent rise in settled loans in the 12 months to June this year, with a total value of over $10 billion.

Mr O’Donnell said this was a result of steady recruitment and as broker groups seeked to “align themselves to a large and proven mortgage aggregator that can maintain market competitiveness regardless of economic cycles”.

Mr O’Donnell said it was also due to members’ willingness to embrace diversification – particularly commercial lending and insurance.

Advertisement
Advertisement

“Year on year Choice has registered a 45 per cent increase in commercial settlements,” he said.

According to O’Donnell, for the month of May this year Choice members lodged 357 policies with Australian Life Insurance (ALI). Since becoming accredited with ALI, Choice members have put in place life insurance cover for their clients totalling $1.6 billion.

The fact that brokers are embracing commercial lending and other cross sell opportunities was a good sign that brokers are serious about adapting to changed market conditions, Mr O’Donnell said.

Published: 10-07-08

Strong growth for major aggregator
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
ASIC TA ASIC levy reflects ramped up enforcement: FBAA

ASIC’s raised industry funding levies reflect higher enforcemen...

money piggy 2ad3 Lockdowns threaten business loan demand: Equifax

Construction and retail trade have fuelled business loan growth i...

mortgage money house 48% of home loan applicants frustrated by paperwork

The majority of Australian borrowers think applying for a home lo...