Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Neo lender finds a neo way

 

 

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Neo lender finds a neo way

mortgage ta mortgage ta
Australian Mortgage Marketplace 5 minute read

Promoted by Australian Mortgage Marketplace.

A new mortgage lender has commenced a series of events to over 1,200 registered attendees. Giving brokers a chance to become owners of the neo lender Australian Mortgage Marketplace.

The neo lender, Australian Mortgage Marketplace has decided to take advantage of new legislation recently given the tick of approval by the Federal Parliament, after more than two years of industry consultations.

Crowd Sourced Funding allows many small investors to invest in small or early stage companies. While equity Crowd Sourced Funding has been available in a number of countries around the world for several years, it has only been available for investors in Australia since January 2018 and legislation extending it to Pty Ltd companies came into effect on 19 October 2018.

Crowd Sourced Funding is a boon for small investors as it allows them to invest in early stage companies pre-IPO and likely at prices well below what would be available in a listed company.

The World Bank is predicting that Crowd Sourced Funding industry will reach US $96 billion a year in developing countries alone by 2025. A report published by Goldman Sachs labelled Crowd Sourced Funding as “potentially the most disruptive of all the new models of finance”.

Advertisement
Advertisement

Taking advantage of this new method of raising equity from an industry crowd, Australian Mortgage Marketplace is a neo lender that’s building a better home loan for exclusive distribution via Mortgage Brokers. They are launching a unique prime product range with personalised interest rates and rapid 15-minute approvals,funded on Australia’s first mortgage securitisation blockchain.

“Right now, the market is ripe for disruption with little innovation in the last decade. Crowd Sourced Funding is a neo approach to raising capital using legislation and a modern technology platform, so it fits with our ethos. We like it because it gives our industry partners the opportunity to be part of our revolution to build a better home loan for exclusive distribution through brokers.” says Graham Andersen, Chief Executive Officer, Australian Mortgage Marketplace.

Headquartered in Sydney and founded by experienced industry professionals, Australian Mortgage Marketplace is rethinking the entire lending process.

“Current lending credit assessment procedures are antiquated, resulting in a lack of consistency and lengthy times to approval. Products and procedures have not kept pace with fundamental changes to Australia’s work and life patterns, nor have the opportunities presented by advances in technology been embraced,” says Andersen,“incumbent lenders treat customers poorly whilst only marginally meeting the requirements of responsible lending conduct”

The lending process commences with Australian Mortgage Marketplace’s Intelligent Credit engine.  Developed in house, the Intelligent Credit engine enables partner brokers to provide tailored prime home loans.

“Australian Mortgage Marketplace’s Intelligent Credit takes a holistic view of home loan applications, assessing scenarios on merit, rather than against broad eligibility rules. The credit-decision algorithms process applicant information, verified by third-party sources, to provide immediate feedback to the broker and customer,” explains Andersen.

This system allows partner brokers to tailor loans to clients’ unique needs and objectives, using scientific risk-based pricing to deliver unique product, personalised interest rates, and a genuine approval in under 15 minutes.

Over 53% of Australians seek credit advice from a mortgage broker. “Australian Mortgage Marketplace will empower brokers to service customers more efficiently using it’s Broker Plus portal.  Australian Mortgage is a genuine wholesale lender that won’t compete with a broker for the customer’s relationship,” says Andersen.

Access to housing credit is vital for Australia’s economy. The banks’ recent lending changes following the Royal Commission has restricted lending to creditworthy borrowers on reasonable terms.  Dedicated to the highest standards of Responsible Lending Conduct, Australian Mortgage Marketplace has revolutionised the responsible lending process via the Responsible Lending Engine.

“The Responsible Lending Engine ensures superior outcomes for customers while reducing friction between brokers and their customers,” says Andersen.

Australian Mortgage Marketplace also innovates by creating what it believes to be Australia’s first mortgage securitisation blockchain to fund loans. The neo lender’s revolutionary smart securitisation platform, ‘Carbon’, leverages distributed ledger technology to deliver the benefits of increased transparency, security and automation to superannuation funds and institutional investors. Carbon creates operating efficiencies for investors providing a better deal all round.

Opening for business on 1st March 2019, Australian Mortgage Marketplace is inviting industry participants to attend their launch events and to participate in an exclusive Crowd-Sourced Funding equity offer.

To find out if you are eligible or for more information visit australianmortgage.com.

 

For media enquiries and interviews:

Brad Seymour
Investor Relations & Communications
0413 113 322
This email address is being protected from spambots. You need JavaScript enabled to view it.

Crowd Source Fund Investment Statement:

The CSF Offer is made under the CSF regime in Part 6D.3A of the Corporations Act 2001. Issuer: Australian Mortgage Marketplace Limited (ACN 617 598 606) Intermediary: enable Funding (Global Funding Partners Pty Ltd ACN 602 324 658, AFSL 502 802). You should consider the offer document and the general risk warning before investing. www.enablefunding.com

Neo lender finds a neo way
mortgage ta
TheAdviser logo
mortgage ta
more from the adviser
Brokers buoyed by shift in mortgage landscape

Political and regulatory developments are conspiring in favour of...

Westpac amends residential lending policy

The major bank and its subsidiaries have made changes to their re...

Lack of home ownership disadvantaging Gen Y SMEs

The low level of home ownership among younger age groups has play...