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An aggregation head has offered a $10,000 reward to whoever catches the person spreading rumours that the aggregator is up for sale.
AFG’s managing director Brett McKeon yesterday entirely dismissed the idea: “AFG is in fantastic shape,” Mr McKeon said, “and I would ask anyone who knows who the person or persons are that are spreading the rumour to give me a call. I may have $10,000 for them.
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“We now support even more of the best mortgage brokers in Australia and this is reflected in the monthly figures we publish. AFG processed over $3.6 billion in mortgages in June, an increase of nearly 13 per cent from an already record-breaking April figure of $3.2 billion.
“We are also investing in the future of AFG, with long-term commitments in the securitisation field which is a long-term strategy with a 5- to 10-year window.
“In March this year, we launched our first Residential Mortgage-Backed Securities (RMBS) for a pool of $275 million home loans, originated through the AFG network.
“AFG has also invested over $50 million in technology infrastructure and recently invested in the development of its new national head office in Havelock Street, West Perth. The 2,000 square metre office space gives AFG the capacity to cater for our future growth and the equity investment in the building has already outperformed expectations.”
Mr McKeon went on to reaffirm the importance of the broker channel, stating that the third party sector has never been more important.
“With lenders making interest rate moves independently of the actions of the [Reserve Bank] and increasing competition in the lending market, borrowers need help to navigate through their options,” he said.
“This is a prime opportunity for brokers to showcase the value of the channel. And just as they go into bat for their customers, we go into bat for our members.”
