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The figure marks an annual growth of 76 per cent, and is said to be partly driven by an expanding white label portfolio.
Connective Home Loans (CHL) - the white label lending arm of aggregation group Connective - has listed its results for the 2021 calendar year, revealing it reached $4.48 billion in total settlements over the 12-month period.
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This sum marks a 76 per cent increase to what was reported in 2020.
Almost one-third (roughly 31 per cent) of this figure was reached over the December quarter, with CHL reporting $1.38 billion in settlements over the three-month period.
Further, the month of December saw Connective brokers settle $531 million in CHL loans and apply for $943 million worth of loans.
Connective has said this result represents 11 per cent of its brokers’ business with all of its lenders.
Partly responsible for this momentum, according to the aggregator, was the continuing growth of the white label home loan portfolio (first introduced in 2019), which surged by 73 per cent year-on-year to total more than $8 billion in applications during 2021.
Head of CHL Michael Goerner commented that other factors relating to this yearly growth included CHL’s staff and their relationships with lender partners, product expansion and the embracing of technology.
“Cutting edge technology was paramount in 2021, particularly with the introduction of CHL’s white label digital loan, Connective Affinity.," he said
"Innovation was also key, with the digitisation of assessment and verification functions across the portfolio, to make doing business easier and faster for brokers and their clients,” Mr Goerner added.
Speaking to The Adviser at the 2021 Connective Conference last week, Connective CEO Glenn Lees affirmed that one of the reasons the aggregation group launched Connective Affinity was to put brokers at the “forefront of that emerging digital trend”.
“The natural place for a borrower to go for help with a home loan is to a broker. So we want to elevate the broker even higher by giving them the tools to solve the complexity and the tools to also then address time to yes,” he said.
Mr Goerner later added that, during 2021, CHL also focused on expanding its national presence, ensuring they had “the right people in the right roles”.
In October, the aggregator confirmed it had updated its BDM team, which included the dual appointment of a NSW and a Queensland BDM.
Mr Goerner concluded that this wave of recent growth suggests that brokers are becoming aware of how CHL can provide “options to service the full spectrum of client types”, and the aggregator wants to “support brokers to strengthen their relationships with their clients”.
CHL’s 2021 figures follow Connective’s announcement last month, which stated that brokers with the aggregation group lodged over $110 billion in residential home loan applications during 2021.
This sum, which marks the first time the group surpassed the $100 billion milestone in a calendar year, represents a 44 per cent year-on-year increase in residential home loans.
Connective brokers were also said to have settled a second record during 2021, with the total home loans reaching $74.9 billion over the period.
[Related: Connective appoints new head of broker]
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