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National Mortgage Brokers settled $6.6 billion in the financial year 2021, with its loan book surpassing $20 billion for the first time.
Wholesale aggregation company National Mortgage Brokers (nMB) has announced that it reached a record year in settlements, closing the last month with a loan book of more than $20 billion.
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The Liberty Financial-owned aggregator said that brokers had continued to drive strong growth, with nMB managing director Gerald Foley stating: “Our brokers have always been our primary focus. This has helped us to gain, and keep, the trust of many broker businesses – both new and established.
Mr Foley, alongside Kon Avramidis and Sal Cinque, founded nMB in 2001, with this month standing as the company’s 20-year anniversary.
“As we celebrate 20 years in the industry, we’re incredibly proud of the support, culture, and opportunity we’ve been able to provide to brokers right across the country,” Mr Foley said.
“Our brokers are not just business partners. We’re passionate about recognising the unique needs of each broker and business we partner with.
“Brokers play an integral role in promoting competition and choice. And, as the preferred channel for Australian consumers, we’re proud to have helped connect brokers with customers and lenders to help more Australians access the finance they need.
“At each stage in our journey, we were fortunate to partner with some great businesses and people who assisted us in our growth strategy.”
The aggregator now includes an 18-person team supporting almost 300 broker businesses and 550 brokers across Australia.
In 2017, nMB was acquired by Liberty Financial from Aussie Home Loans, which itself acquired the aggregator from Mosaic Financial Services five years earlier.
Earlier this week, Liberty Financial Group reported a year-on-year 38 per cent rise in net profit and a net revenue growth of 18 per cent for FY21.
Mr Foley concluded: “The successes we’ve achieved to date could not have been possible without the fantastic team we have built, including our staff, brokers and supplier partners.”
[related: Liberty Financial raises broker investment as book swells]
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