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Aggregation group National Mortgage Brokers (nMB) has defied tough economic conditions of the last 12 months, reporting a 20 per cent increase in loan volumes in May.
Loans submitted by nMB brokers during the month hit $220 million – an increase of $35mill on the same month in 2008.
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Sal Cinque, nMb director of sales and marketing, told Mortgage Business that the increase in volume could be attributed to organic growth as well as greater productivity from established brokers.
“We’ve seen broker numbers increase over the last year and this has certainly contributed to higher volumes though there is always a lay in terms of business written by new brokers.
“Increased activity in the Victorian market over the last six months has contributed to the volume growth and more recently an up-swing in activity for NSW,” Mr Cinque said.
nMB added 52 brokers to its ranks over the last 12 months and the group has targeted a figure of a further 60 brokers for the coming year.
Mr Cinque believes that nMB is well positioned to cater for more established brokers and will target brokers that are in the $1-$2 million per month settlement bracket.
