Firstfolio joins the perennial brokers

April 07, 2010

The recent history of the mortgage sector suggests that as soon as the big banks grab an indecent portion of market share, new players emerge to nibble away at the spoils.

In the early 1990s, new rivals such as Aussie Home Loans, Wizard and RAMS sprung from the scorched landscape, before themselves being subsumed. Firstfolio a mix of mortgage broker, wholesaler, originator, processor and manager continues the perennial cycle.

Southern Cross Equities describes Firstfolio as a “bank in everything but name”, a vital distinction being that it has no need for capital to support loans… Read more…