The mortgage broking industry is reeling after a judgment against the country’s biggest aggregator could change ownership from Macquarie to Liberty Financial.
It’s not every day a judgment is so scathing that it puts an entire industry into turmoil. But a judgment from the Supreme Court of Victoria into mortgage broking giant Connective has put a cloud over its reputation and ownership structure.
Connective is the country’s biggest mortgage broking aggregator, with 4000 mortgage brokers operating under its banner and many of them sitting under its Australian Credit Licence, writing more than $85 billion a year in new home loans.
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Adele Ferguson is a Gold Walkley Award winning investigative journalist. She reports and comments on companies, markets and the economy. Connect with Adele on Twitter. Email Adele at adele.ferguson@theage.com.au
