Growth and thrift salves at YBR
Yellow Brick Road reported handsome growth in home loan settlements over its December 2016 half year, with the workload just enough to allow the group to scrape out a profit.This "maiden profit", to quote YBR, was partly thanks to "back to basics cost control. "Net profit for YBR over the half was A$400,000, compared with a loss of more than $4 million in the same period in 2015.The mortgage aggregator said that "apart from an anticipated drop in settlement volumes from Vow's flat fee lending product, all lending distribution channels - including other Vow lending - exceeded market growth.