Managing Director Kim Cannon said the sum raised in 2019 - which amounts to 29% of Firstmac’s total balance sheet – showed the overwhelming confidence investors had in the quality of the loan book.
“This has been an extraordinary year for Firstmac as we celebrated our 40th year in business while also writing record volumes of loans and smashing the $12 billion milestone in loans under management,” Mr Cannon said.
“We haven’t done this by relaxing our credit policies but through competing hard on service and products in the prime loan market and beating the banks at their own game.”  
Mr Cannon said Firstmac’s strong performance was evidence that non-banks could provide real competition to the banks both through direct retail distribution and in partnership with mortgage brokers.
“Australians are abandoning the Big 4 in droves because they know that we are here to offer them a better alternative,” Mr Cannon said.
“Even small players can make a big difference to the market when we are allowed to compete with the banks and show that we can provide superior service.”
“We’re shaking up the home loan market, and we’ve made it no secret that we could offer our experience and proven track record to do the same for banking.” 
Firstmac has been trying for well over a year to complete the takeover of the Maleny Credit Union, which was overwhelmingly endorsed by members in April, but it has yet to hear if it will be approved by the government following a delay with APRA.
Mr Cannon said that nevertheless, a formidable business and rapid growth was making Firstmac even stronger, boosting its ability to continue building a winning non-bank lending machine.
“Our philosophy is not to chase profits but to build it well and know that profits will follow as a result of a great business,” Mr Cannon said.
“Well thanks to our loan growth this year, our profit is on track to more than double, funding further investment in building our business next year.”
Mr Cannon said the $1.1 billion prime RMBS deal that Firstmac had just completed was its fourth transaction for the calendar year. 
“The high acceptance of our name in wholesale markets is a testament to the quality of our sales and marketing distribution, credit underwriting, our operational servicing capacity, and our market leading low arrears and default rates,” Mr Cannon said.
“We are very proud of what we have achieved as Australia’s largest privately owned non-bank lender and look forward to taking the fight up to the banks even harder in 2020.”
Media contact: Duncan Macfarlane 0434 184 264 

Firstmac Limited is an independently-owned, Australian financial services provider. Firstmac has written in excess of 100,000 home loans and manages approximately $12 billion in mortgages and $300 million in cash investments. Firstmac is a premier sponsor of the Brisbane Broncos.