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Article: Macquarie moves into mortgage broking. (News).(bank takes a 10% stake in Australian Finance Group)

Article from:
Australian Banking & Finance
Article date:
November 15, 2001
Copyright

MACQUARIE BANK HAS SECURED a position in the increasingly-significant mortgage broking market, acquiring a 10% stake in Australia's largest wholesale mortgage broker, Australian Finance Group (AFG).

AFG has a national member base of 1200 made up of professional mortgage intermediaries, accountants, financial planners and real estate agents.

In 2000, AFG arranged real estate loans totalling $3.5 billion and currently originates in excess of $500 million worth of mortgages a month.

The company's revenue is ...

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