The number of brokers diversifying into commercial lending has reached a new record, coinciding with a significant rise in settlements year-on-year, according to the latest six-monthly figures.
It is one of three records captured in the MFAA Industry Intelligence Service (ISS) 15th edition report for the period of April 2022 to September 2022, released on March 31. The report also shows total broker numbers surpassed 19,000 for the first time, while the total value of loans settled reached $181.2bn, up 9.2% compared to April to September 2021.
Meanwhile, ABS lending indicators released on Monday show new loan commitments for housing fell 0.9% over February, with lending to owner-occupiers falling 1.2% and lending to investors falling 0.5%.
According to the latest MFAA IIS report, which draws on data from 11 aggregators, mortgage brokers chalked up $17.2bn in commercial loan settlements over the six-month period, up $3.8bn (28.65%) year-on-year, and up $1.2bn (7.89%) compared to October 2021 to March 2022.
Full article: https://www.mpamag.com/au/specialty/education/brokers-set-commercial-lending-record/441643