Going direct pays off for Firstmac (Banking Day)

Mortgage specialist Firstmac has delivered a result that may be a pointer to the future of mortgage lending. It has achieved very strong growth in its loan portfolio, with more than half of that growth coming from direct sales to consumers.

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16 Apr 2014

Firstmac leads the return to offshore RMBS

Brisbane-based non-bank lender Firstmac is one of the few to venture back to offshore RMBS markets. Last year it priced two RMBS transactions totalling $900 million, each with sterling-denominated tranches that totalled £177 million.

Firstmac said it has also bucked the national trend by increasing its monthly mortgage settlement volumes to levels last seen before the GFC. This has led it to seek greater volumes of RMBS funding by going offshore.- AB+F- view article