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ISCOVER
Staff Reporter
The sluggish property market has not stopped MFAA-accredited brokers from writing significant volumes.
According to new research conducted by financial services benchmarking group comparator, mortgage brokers broke through the $100 billion barrier of home loans written during the 2012 calendar year.
In addition, it was found that brokers originated more than 40 per cent of all new residential lending during 2012.
Brokers also experienced a surge in lending volumes during the December quarter of 2012, with 5.5 per cent growth from $25.6 billion to $27.2 billion.
MFAA chief executive Phil Naylor said the annual figures show that the broker channel is now a vital avenue for banks and other lenders to generate home loan business and market share growth.
“It is clear that both consumers and lenders are recognising brokers’ increasingly important role and as a result, their share will continue to gather momentum during 2013,” he said.
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