REA Group’s financial services division (of which Mortgage Choice is its most prominent brand) had a tough year to June 2023. Operating revenue for the division fell 13 per cent to A$69 million, while “net revenue” fell eight per cent, with Mortgage Choice now “fully integrated” following its takeover in 2021. The group has 1050 brokers in Australia. EBITDA for the REA financial services division in FY2023 was $8.9 million, up from $8.0 million in FY2022. Financial services is a modest earner for REA Group, representing little more than one per cent of profit. REA said loan settlements fell 13 per cent over the year to $22 billion. Its loan book increased only one per cent, to $88.1 billion. REA said that “financial Services is strongly positioned to leverage a market recovery” while “completion of integration, broker network growth, brand investment and product innovation [will] underpin future growth”. The ultimate parent entity of REA Group is News Corporation, which owns 61.4 per cent of REA via News Australia Pty Limited.