Mortgage Brokers Break Through $100 Billion Barrier for Home Loans Signed in 2012
14 February 2013
Mortgage brokers have continued their growth momentum, breaking through the $100 billion barrier of home loans written during the 2012 calendar year, according to research of the top 16 aggregators in the industry by research group comparator.
The research also shows that mortgage brokers originated more than 40 per cent of all new residential lending during 2012.
Brokers also experienced a surge in lending volumes during the December quarter of 2012, with 5.5 per cent growth from $25.6 billion to $27.2 billion.
CEO of the Mortgage and Finance Association of Australia (MFAA), Mr Phil Naylor said “The annual figures show that the broker channel is now a vital avenue for banks and other lenders to generate home loan business and market share growth.
“It is clear that both consumers and lenders are recognising brokers’ increasingly important role and as a result, their share will continue to gather momentum during 2013”, he added.
The research also shows that the average value of home loans originated by brokers totals $337,000.
For Further Information Call:
Phil Naylor Tim Allerton
MFAA City PR
(02) 9967 2896 (02) 9267 4511 or (0412) 715 707.