Australia Finance Group Ltd (ASX:AFG)

Company's Profile

Australian Finance Group Limited is an Australia-based company that is engaged in the mortgage origination and lending business. The Company operates through two segments: Aggregation and AFG Home Loans (AFGHL). Its Aggregation segment includes operating activities, in which the Company acts as a wholesale mortgage broker that provides its contracted brokers with administrative and infrastructure support, as well as access to a panel of lenders. The Company receives two types of commission payments on loans originated through its network, which include upfront commissions on settled loans and trail commissions on the loan book. Its AFGHL segment offers its branded mortgage products, funded by third-party wholesale funding providers (white label products), and AFG Securities mortgages that are distributed through its broker network.