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Resimac buyer of Volt mortgage book

Non-bank mortgage funder Resimac appears to be the buyer of the mortgage book of Volt Bank, which is exiting the industry.

In its media release yesterday, Volt said it had "executed a transaction to sell its mortgage portfolio," but did not identify the buyer.

Resimac declined to comment on a request to confirm or clarify its dealings with Volt.

APRA data shows Volt had A$80 million in housing loans at the end of April.

Through Volt Limited, which will continue trading even as the bank is wound up, Volt retains ownership of the intellectual property at the heart of the Australian Mortgage Management business, which it acquired a year ago.

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