MA Money cracks $1 billion barrier

MA Cash, a division of MA Monetary Group, has celebrated reaching a major milestone: $1 billion in settlements.

This achievement follows a powerful yr for the non-bank lender, marked by a 244% enhance in its mortgage e book, with over $870 million added since its launch in November 2022.

Chris Wyke (pictured above), joint CEO of MA Monetary, mentioned the corporate was delighted to announce this vital milestone for MA Cash, which got here after 18 months of getting ready the enterprise for progress.

“Reaching $1 billion in settlements is tangible proof that we’re heading in the right direction with our methods, which prioritise a seamless expertise for brokers and versatile options for our clients with distinctive dwelling mortgage necessities,” Wykes mentioned.

Investing in third-party channel expertise

“The spectacular progress price of MA Cash positions us favourably to grasp our ambition of turning into one in every of Australia’s main non-bank monetary establishments.”

Wyke attributed MA Cash’s progress to strategic investments in techniques and infrastructure, together with a digital utility system and integrations with e-signing, Digital ID, and CoreLogic.

“These applied sciences, together with a streamlined evaluation course of, allow us to course of purposes shortly, with a 48-hour service stage settlement (SLA) to conditional approval,” he mentioned.

“We’ve taken time to construct a really skilled and educated staff and improved our mortgage product providing out there.”

A optimistic yr for MA Cash

The previous yr has been a usually optimistic one for MA Cash.

This was preceded by the corporate lodging report numbers within the wake of its acquisition by MA Monetary, reaching greater than 500% progress in lodgements over the six months ending June.

Once more, Wyke attributed this success to the optimistic response from brokers to MA Cash’s expanded product choices and enhanced expertise platform.

“Lately, we additionally launched SMSF and Expat loans, prioritised providing aggressive charges and display agility to regulate insurance policies to offer extra flexibility when it is smart to the enterprise and our clients.”

Various non-bank lenders are experiencing sturdy mortgage progress. What’s driving this? Remark under