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Mortgage Choice CEO Michael Russell that NAB’s acquisition was a “wonderful endorsement” of the work that mortgage brokers are doing.
Speaking at the company’s annual financial results meeting on Friday, Mr Russell told Mortgage Business NAB’s recent acquisition of Challenger may make the bank a force to be reckoned with.
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“I think it is fair to say that NAB has been performing below the other three pillars in the broker space.
“However, their acquisition of Challenger shows that they are a very committed player and they respect the fact that the consumer chooses how they engage with their home loan manufacturer and 41 per cent are choosing to come through mortgage brokers,” Mr Russell said.
