Resimac mortgage settlements jump 20%

The non-bank lender’s home loan settlements rose from $4.9 billion in FY25 to $5.9 billion in FY26 – driven by strong application demand, “deep broker relationships and continued execution of initiatives aimed at improving customer and broker experience”.

Indeed, mortgage application volumes climbed from $7.6 billion to $9.4 billion over FY26.

Resimac’s mortgage assets under management (AUM) expanded 10 per cent to reach $14.7 billion, helping drive up total group AUM by 4 per cent to $16.5 billion.

Non-conforming lending continued to make up the majority of new activity across the year, with non-conforming settlements ($3 billion) slightly outweighing prime settlements ($2.9 billion).

Non-conforming loans currently comprise nearly 66 per cent of Resimac’s overall portfolio, and owner-occupier loans account for around 53 per cent.

However, prime loans picked up momentum, representing more than half of all new settlements in the second half of the financial year.

This shift helped reduce collective provision coverage by 2 basis points to 20 bps. Prime home loan arrears (90-plus days) remained steady at 0.41 per cent.

Asset finance amid shift to higher returns

In contrast to the mortgage expansion, settlements in Resimac’s asset finance division were “deliberately moderated” as the business prioritised “higher risk-adjusted returns”.

Asset finance applications decreased from $1.4 billion to $1.2 billion in FY26, with full-year settlements easing from $900 million to $800 million.

Auto finance represented 46 per cent of asset finance settlements, followed by secured business loans (37 per cent) and equipment finance (17 per cent).

Asset finance AUM rose 7 per cent (up $100 million) to $1.5 billion, when excluding the Westpac auto portfolio, which Resimac acquired last year.

Moreover, the Westpac book continued its run-off, with its AUM declining from $1.1 billion in 2H25 down to $0.3 billion by 2H26. Nevertheless, the Westpac auto portfolio contributed $9.4 million to the group’s $92.9 million of operating profit (before impairment expense and tax) – more than the $9.1 million of home loan volume.

The broker impact

Commenting on the impact brokers have made to Resimac’s results, CEO Pete Lirantzis said: “Brokers were central to Resimac’s success in FY26. More brokers chose to use us more often, reflecting the strength of our proposition and the confidence they have in our ability to support a broader range of customers.

“Their support has been a key driver of our growth, and we remain focused on making it easier for brokers to place more customers with Resimac.”

Speaking of the group’s full-year performance, he said: “FY26 was a year of stronger earnings, disciplined growth and improved returns. We grew operating profit, expanded margins, maintained strong credit quality and increased shareholder returns while continuing to invest in the foundations of future growth.

“Momentum in our core home loans business strengthened during the year, with settlements increasing 20 per cent and home loan AUM reaching $14.7 billion. At the same time, our asset finance business continued to focus on higher risk-adjusted returns and profitability rather than volume growth.”

Looking ahead to FY27, Resimac outlined that it was pushing forward with strategic priorities centred on “intelligent lending, scalable growth and stronger returns.”

Key pillars include:

• Strenghtening the home loan portfolio and growing AUM “sustainably through stronger propositions, retention and broker execution”. It said it would continue to invest in initiatives designed to streamline broker interactions.

• Using AI, data, and automation to improve decisioning, productivity, and customer experience.

• Deepening channel partnerships and streamlining partner and customer journeys by strengthening relationships through personalising service.

• Building a suite of complementary products, including refinancing asset finance products to improve risk-adjusted returns and scaling products to strengthen and diversify AUM.

• Building “a high-performance culture” to embed mindsets and behaviours that drive “performance and growth and attract, develop and retain talent through a strong, supportive culture”.

Outlining the group’s strategic focus and outlook, the CEO said: “Our focus is clear. We are strengthening home loans by improving the experience for customers and brokers, helping brokers match customers with lending products that suit their needs across all our asset classes, and using technology to lift service levels.

“The actions taken over the past year have strengthened the quality, resilience and scalability of the group.

“Resimac is well positioned to continue evolving as the home of intelligent lending, with a focus on sustainable home loan growth, higher risk-adjusted returns in asset finance and attractive long-term shareholder returns.”

Resimac board has declared a fully franked final dividend of 6.0¢ per share, an increase of 2.5¢ per share on the FY25 final dividend. Together with the fully franked interim dividend of 4.0¢ per share, this brings ordinary dividends for FY26 to 10.0¢ per share, up 43 per cent on FY25.

The group also said it returned surplus capital through a fully franked special dividend of 9.0¢ per share.

[Related: Resimac originations climb as brokers drive growth]