Fast growing non-bank mortgage lender MA Money, a part of MA Financial Group, has reached an impressive $2 billion in loans under management, doubling its loan book in just nine months.
This significant milestone caps a standout year for MA Money in 2024. After announcing $1 billion in settlements in March, the company has expanded its sales team, introduced innovative product and policy changes – including eliminating clawbacks on vacant land loans and launching large loans of up to $5 million – and secured a $500 million Residential Mortgage-Backed Securities (RMBS) public term issuance in October.
Chris Wyke, Joint CEO of MA Financial, attributed the rapid growth to MA Money’s investment in advanced systems and process optimisation, enabling an impressive 48-hour turnaround to conditional approval.
“2024 has been a defining year for MA Money,” Mr Wyke said.
“This $2 billion milestone and our overall success is a testament to the exceptional efforts of our high-performing team and our commitment to delivering innovative solutions for brokers and borrowers.
“Doubling our loan book in just nine months is a phenomenal achievement, and it reflects the strength of our service offering and the trust placed in us by our broker partners.
“MA Money also began contributing monthly profits this year, cementing its position as a key player in the non-bank lending sector.
“We’ve invested heavily in technology and streamlined processes to ensure we provide a seamless experience for our brokers and their clients.
“Our success is built on the back of listening to brokers, responding to their needs, and continuously improving our products. We’re always looking for ways to deliver more value and flexibility.”
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