Why it matters: Domain wants to exit its mortgage JV with Lendi.
Lendi was “surprised to read” Domain’s stake in Domain Home Loans is for sale.
Domain posted a 28 per cent drop in annual profit to $38.6 million.
The boss of one of Australia’s biggest mortgage brokers, Lendi Group, has unleashed an extraordinary broadside at Domain after the real estate platform said it was “actively pursuing an exit” from their joint venture, Domain Home Loans.
In its full-year results announcement on Thursday, Domain chief executive Jason Pellegrino said while DHL had outperformed the market there was “much greater potential” for Domain to strike out on its own or with another partner.
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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
