X Inc Finance and eMOCA, the mortgage broker group of Australia's largest real estate agent Ray White, last week announced merger proceedings to create a $10 billion mortgage broking business.The transaction will combine X Inc, with Ray White Group's Electronic Mortgage Organisation Channels of Australasia Pty Ltd, (eMOCA), comprising Ray White Financial Services, Loan Market and REA Home Loans.The merged entity targets the number one branded mortgage business in Australia, but according to CEO Jennifer Nielsen, no definitive decision has been made which will be the lead brand."I honestly don't know what the brand name will be. We are not going to change the brand immediately as we are not completely sure how to capitalise on the opportunity, and it's absolutely possible it will be a new brand."We have looked at the position the existing brands are in, and the brands themselves are aimed at different market segments."The new brand timetable has not yet been released, but the merged entity targets writing $1 billion in loans by 2010, and a mortgage book three times the current at $30 billion.As to how the business will achieve the growth in a little over two years, Nielsen said they will target new and existing mortgages in the Australian market, which will be powered by the 10 new brokers joining X Inc each month."I think there is a lot of breadth in the broker market opportunity."We work only with experienced brokers, so the fact of the matter is any new brokers will come from another aggregator, and increasingly we have been picking them up from lenders as well. "And the Ray White guys own a relationship market, they have a lot of the DNA in their business on how to build a relationship with a real estate agent in a structured way."Nielsen said the last three months have averaged $600 million in loans, for a total book close to $10 billion.To reach the $30 billion by 2010 goal book, the unnamed entity will need to increase net loans by $750 million per month, or to reach this figure in October 2010 the net monthly increase required is $550 million.