MORTGAGE broker Homeloans Limited has lifted its first half year net profit by 4.9% to $2.8 million.
Branded loans under management increased 2.8% to $3.9 billion at 31 December 2015. The non branded loan portfolio reduced slightly to $4.2 billion, resulting in the total portfolio remaining steady at $8.1 billion.
“We are pleased with the level of settlements growth and profit uplift, which has again allowed us to declare a dividend for shareholders. With so many lenders adopting pricing and policy changes for particular mortgage products, our diversified funding base has allowed us to capitalise on these changes,” CEO Scott McWilliam said.
“The Homeloans business continues to perform strongly despite changes to the regulatory landscape during the period which impacted segments of the mortgage market, such as investor and interest only loans. Recent industry fragmentation, which has seen lenders moving to differentiate on policy and pricing, has benefited Homeloans given its diversified funding base,” he added.
The company announced a dividend of 2 cents.
McWilliam said Homeloans remains in a strong position, with the positive trend in submission and settlement activity continuing into the second half of FY2016.
Australian Property Journal
