ASX-listed MA Financial Group has announced the successful completion of the inaugural residential mortgage-backed securities (RMBS) public term issuance by its residential mortgage lending arm, MA Money, totalling $500 million.
Originally launched with an initial size of $400 million, the transaction was met with robust demand from both domestic and offshore investors, leading to an upsizing to the final amount. The generated proceeds will boost MA Money’s capacity for future growth, reinforcing its commitment to providing reliable mortgage solutions to its clients.
In a media statement, MA Financial Group said the latest MA Money transaction marks the largest inaugural non-bank RMBS issuance by a lender in Australian history, reflecting the mortgage lender’s dedication to continuous growth and its position as an innovative leader in the Australian home loan market.
“We are pleased to have completed our first RMBS term issuance, a meaningful milestone that underscores our prudent lending practices and ability to grow MA Money,” said Chris Wyke (pictured above), joint CEO of MA Financial.
Wyke highlighted the transaction’s significance in diversifying MA Money’s funding sources and expanding its investor base. Looking ahead, he said the company intends to become a regular participant in the RMBS market, taking a proactive approach to engage with investors and share its growth strategy.
In July, MA Money reported record lodgement numbers in the wake of its acquisition by MA Financial, achieving more than 500% growth in lodgements over the six months ending June. Wyke attributed this success to the positive response from brokers to MA Money's expanded product offerings and enhanced technology platform.
In other company news, MA Money, backed by its parent company MA Financial, recently introduced a new loan product, MA Money Private, designed to cater to borrowers who may face challenges with traditional lenders.
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