Powered by MOMENTUM MEDIA
the adviser logo
Broker

Resi spinoff retains broker offering

by James Mitchell9 minute read
The Adviser

A Resi-affiliated mortgage manager, which was not acquired by Yellow Brick Road as part of its $36 million deal with Resi's retail distribution business, has revealed its growth plans.

Sydney-based Advance Investment Securities Australia (AISA), an affiliate of the Resi Mortgage group of companies, recently purchased BMC's loan book for an undisclosed amount and is keen to continue on the acquisition path.

AISA's Russell Murphy said that following YBR's acquisition of Resi, his company had been left with a broker offering, online HomeloanHQ.com.au, and commercial and residential securitisation warehouses.

"We see ourselves pursuing basically online organic growth into the future," he said.

==
==

Mr Murphy confirmed that he is actively looking to acquire further mortgage books.

While AISA is a residential mortgage-backed security issuer, none of the BMC portfolio will go into a securitised offering.

The group has strong relationships with funders Advantedge, Resimac and Firstmac, and is a big believer in non-banks, Mr Murphy said.

"We also have relationships with Vow, PLAN, FAST and Choice," he added.

"In the aggregation space we have relationships with all of the providers."

Mr Murphy stressed that since YBR's acquisition of Resi, his company is only loosely affiliated with the group.

[Related: Resi and Vow acquisitions reaping rewards for YBR]

default
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more