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The latest MFAA data has shown a continued rise in the number of mortgage brokers also writing commercial loans.
More mortgage brokers are writing commercial loans than ever before, according to the latest data from industry body, the Mortgage & Finance Association of Australia (MFAA), continuing the diversification trend observed in recent datasets.
Released on Wednesday (25 June), the MFAA’s latest Industry Intelligence Service Report (IIS) – undertaken by research group Cotality (CoreLogic) Comparator – showed the number of mortgage brokers also writing commercial loans exceeded 7,000 for the first time on record.
In the period covered (the six months from April 2024 to September 2024), 7,023 mortgage brokers also wrote commercial loans, according to MFAA data.
This marked a 24.21 per cent year-on-year increase and a 3.97 per cent increase on the previous record set in the six months prior (6,755).
During this period, the total value of commercial loans settled by mortgage brokers also rose to a new high of $22.68 billion, up 31.2 per cent (or $5.39 billion) year on year.
Period-on-period growth in the number of mortgage brokers also writing commercial loans was seen across all states, with the largest proportional increase reported in South Australia (up 13.63 per cent).
Meanwhile, the total commercial loan book volume from mortgage brokers also reached a record high of $85.89 billion, up 9.95 per cent on the same period in 2023 ($78.12 billion).
MFAA CEO Anja Pannek said borrowers are recognising that brokers have the skills to find the right financial solutions for them and that this mindset was extending to commercial loans.
“We welcome the fact that more mortgage brokers are diversifying their services by writing commercial loans, as this can only contribute to their business growth,” Pannek said.
“It also enhances competition and choice, providing SME clients with a greater range of options.”
Settlement volumes breaking records
Mortgage brokers were just as busy, according to the report.
During the six months to September 2024, mortgage brokers settled $203.8 billion – a 14.8 per cent (or $26.28 billion) increase on the volume settled during the same period in 2023 ($175.3 billion).
Meanwhile, the total population of mortgage brokers increased to its highest number on record (22,265), up 12 per cent year onvyear.
The MFAA also noted the broker population had grown by 34 per cent during the five years to September 2024.
Broker market share was at a high of 74.6 per cent of all new home loans in the three months to September 2024.
This has since been surpassed by the record market share in the most recent data for the three months to March 2025.
[Related: Broker population hits new high]
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