Broker engagement driving better home loan margins for non-bank lender
Non-bank lender Resimac increased total originations by 11%, or $3.1 billion, on a year-on-year basis in the six months ending 31 December 2025.
Assets under management (AUM) similarly increased to 11% to total $15.8 billion. Home loan balances increased by $600 million to $13.6 billion, marking a 5% yearly increase.
On a sequential basis, Resimac booked a 16% decline in its asset finance AUM amid a run-off of the Westpac auto portfolio that it acquired in 2025. But a robust showing in Resimac-originated asset finance (surging 25% on a year-on-year basis) helped to offset this run-off.
Resimac completed the migration of 100,000 customers from Westpac’s auto finance and novated leasing back book in March 2025. Receivables and leases from the acquisition helped to drive a 26% year-on-year increase in net interest income (NII) in the reporting period.
Resimac noted a five-basis-point improvement in its home loan margin, which it attributed to “a pricing campaign in 1H25 to stimulate application volumes and broker engagement”.
Prime mortgages comprised nearly 54% of Resimac’s home loan book at the end of the period, with the average prime LVR sitting at 58.9%.
Discussing brokers’ influence on Resimac’s results, chief executive Pete Lirantzis (pictured) said: “The broker channel has played a pivotal role in delivering this strong first‑half performance.
“They’ve continued to bring high‑quality customers, challenged us to keep improving, and collaborated closely as we enhance our technology and service model. Simply put, brokers have been central to the momentum we’ve seen.
“By investing in a smoother, more consistent broker and customer experience, we’re earning trust and that’s translating into repeat business.”
Resimac has yet to disclose specific contingency liabilities relating to civil penalty proceedings launched by the Australian Securities and Exchange Commission (ASIC) last May.
“Any potential liability resulting from this engagement, or any other matter, is only provided for when it is probable that an outflow will occur, and a reliable estimate of the outflow can be made,” said the group.
