Firstmac billows in mortgage market
The ever keen pricing of Firstmac is helping the non-bank lender to set some kind of lending record across the spring home-buying season.Firstmac, in a media release on Friday, declared that "this week it passed the A$9 billion mark in loans under management, an increase of more than $1 billion since June 2017."An increase of better than 12 per cent over less than four months, annualised, is a radical growth rate by any historical standard for any period in the Australian mortgage landscape.Marie Mortimer, managing director of the loans.com.au subsidiary brand, said it took six years for Firstmac to build the loan book to $4 billion at the loans.com.au brand.