MFAA| 17 May 2017
According to research group ‘comparator’, a CoreLogic business, finance brokers originated at least $46 billion in new home loans* during the March 2017 quarter. This result represents the largest by value ever for this particular quarter which is historically the “low point” by value for the calendar year.
Mortgage brokers originated 53.6% of new residential home loans during the March 2017 quarter, based on data sourced from 19 leading brokers groups and aggregators. This is an increase from the 51.9% result in the December 2016 quarter, and is only slightly down from the same quarter in March 2016, which was 53.7%.
”We typically see a good relative result for broker market share in the March quarter, and this quarter is particularly important as it follows a period of increased prudential focus on interest only loans and ongoing attention on investor lending, both of which have had an impact on the broker channel,” stated MFAA CEO Mike Felton.
“This market share figure reflects the strong consumer outcomes that brokers continue to deliver, further backing up the high satisfaction ratings that brokers receive in other qualitative feedback.” Felton added.
Research group ‘comparator’ provides the quarterly figure by calculating the value of loans settled through 19 of the leading aggregator groups as a percentage of the ABS Housing Finance commitments. The MFAA releases this statistic each quarter.