YBR posts strong settlement growth

In a trading update on Friday, YRB noted that it had grown its settlements to $4.1 billion, up 42 per cent from first quarter of 2015-16.

The group grew its loan book by 20 per cent, ending the quarter with a total book value of $32 billion.

Overall funds under management growth increased 45 per cent, with the star performer being YBR’s funds management joint venture, Smart Money Investments (SMI), which more than doubled its FUM reaching $343 million.

The update also revealed YBR leads have doubled, representing the significant increase in marketing investment over the past 12 months as well as the “50-basis-points advantage versus the big four banks in rates on YBR’s lead home loan”.

The group also commented on its recent joint venture with US-based insurer Metlife.

YBR Loan Protect is offered during the lending process and aims to provide customers with greater protection.

“A core part of our business at Yellow Brick Road is to provide our customers with protection against the unexpected,” YBR executive chairman Mark Bouris said.

“When a person secures a mortgage, it is generally the biggest debt they will take on in their life. As mortgage sizes significantly grow, Australians still lack the insurance to repay their mortgage if something unexpected happens.”

This new product comes ahead of the release of a full suite of white-labelled income protection and life insurance options which will be sold through the Yellow Brick Road Group.