Investment Overview

AustralAsian Mortgage Finance Limited (AMF) is building a full-service non-bank residential mortgage business (funded in the capital markets) servicing predominantly foreign residential mortgage borrowers.

AMF is at an advanced start-up stage of development. It has brought together a team of professionals from the finance industry and is developing strategic and service relationships with other service providers. Through relationships that are currently being negotiated, the Company will have access to all the necessary mortgage origination and servicing infrastructure and expects to be able to establish a low-cost and high-margin operating model, with limited capital expenditure requirements.

AMF will arrange financing for, market and originate residential mortgages provided to non-bank borrowers. AMF initially intends to offer first-ranking mortgages over Australian residential property to:

  • Foreign investors; and
  • Temporary resident visa holder owner occupiers.

The Directors believe there is a clear new mortgage market segment that is substantially undersupplied. This has presented the opportunity to establish a new mortgage finance business initially specialising in funding prime foreign borrowers and recent migrants to Australia.

Australasian Mortgage Finance Ltd – AMF

Company Name

708

Offer Type
$948,376
Raised

Key information

Company Information

ACN 615 711 772
Company Website www.australasianmortgage.com
Registered Office Level 33 / 264 George Street
Sydney New South Wales 2000
Share Registry CorpComp Pty Ltd
www.corpcomp.com.au
Auditor HLB Mann Judd Assurance (NSW) Pty Ltd
www.hlb.com.au

Q&A

What does the business do and what are its main functions?

AustralAsian Mortgage Finance Limited (AMF) is building a full-service non-bank residential mortgage business (funded in the capital markets) servicing predominantly foreign residential mortgage borrowers. AMF will arrange financing for, market and originate residential mortgages for non-bank borrowers.

What is the innovation and its key features?

Using new technology, AMF plans to check the details of income for each and every applicant no matter where they live internationally. The system’s functionality includes the digital recognition and analysis of foreign bank statements and is a proven system used by one of the major banks. It is the Directors’ understanding that no non-bank funder involved in this market segment has access to credit insurance. Income verification is central to having access to credit insurance.

What is the value proposition of the business’ products and services?

AMF’s products and services provide customers with the following tangible benefits: Access to credit insurance leads to a larger pool of available funding; A larger pool of available funding and a focus on quality of underlying security which enables AMF to finance higher loan amounts at higher loan-to-value ratios; and the provision of higher loan amounts which feeds into lower costs to borrowers while allowing AMF to build and maintain solid revenues by offering a more competitive product.

What market and market segments does the business operate in?

AMF’s business will arrange financing for, market and originate residential mortgages provided to non-bank borrowers, including, but not limited to: Foreign non-resident investor borrowers; Foreign resident borrowers holding an Australian visa; and, over time, other customer market segments not serviced, or under serviced, by banks, including those with reasonable credit histories and secured by Australian property.

What is the business’ stage of development?

AMF is at an advanced start-up stage of development. It has brought together a team of professionals from the finance industry, and is developing strategic and service relationships with other service providers.

Does the business have any key distribution channels?

AMF’s distribution strategy is focused on distributing its products and services via two main intermediary channels: – Property sales agents – Migration agents AMF’s target is to execute at least 20 origination agreements with agents in coming months. Over time, the Company intends to engage with major banks operating in Asia as sources of originations, in addition to traditional domestic agents such as mortgage brokers and aggregators.

What competition does the business face?

AMF competes with other non-bank lending institutions seeking to market and sell residential mortgages to prime foreign borrowers. Due to recent regulatory changes imposed by APRA, loans to foreign borrowers with good credit were previously considered to be conforming (or prime) mortgages, but are now categorised as non-conforming. This has seen a substantial reduction in the level of competition in the foreign investor market segment, with most banks have largely exited the segment.

The Team

The Board

Stephen Conrad – Chairman

Stephen brings 25 years structured finance experience working for global investment banks in Sydney, Hong Kong and Singapore. In addition, he has previously started up and successfully sold a medical distribution business to a German multinational company.

Simon Robinson – Managing Director

Simon has over 20 years of experience in the mortgage industry from rating agencies to investment banking. Simon has rated, structured and funded many billions of dollars of asset-backed securities and mortgage-backed securities in various capital markets.

Peter Cossetto – Director / Secretary

Peter has over 20 years of broad commercial experience in investment research and management, financial services and legal professional practice. He has been involved in the formation, growth and sale of numerous businesses.

David Diamond – Director

David worked as a Manager at Deloitte Sydney in audit and insolvency 10 years, then with Ferrier Hodgson in reconstruction and insolvency as Director and Joint Venture Partner. He has, since 1996, acted as an independent advisor and, when appropriate, as director assisting companies with growth potential, or in buying or selling. Companies included private and listed entities.

Rob Emmett – Director

Rob Emmett is the CEO and founder of Collins Home Loans and has over 25 years experience in banking and finance. Rob commenced Collins Securities in 1992 after a strong background in management with a number of Australia’s largest merchant banks. Rob is a qualified CPA with the Australian Society of Accountants and a current Fellow of the Mortgage and Finance Industry Association.

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Videos

AustralAsian Mortgage Finance Ltd Flagship Video

AustralAsian Mortgage Finance Limited (AMF) is a newly established mortgage finance business
initially specialising in funding foreign investors and recent migrants to Australia.

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Key documents

AMF - Offer Document

Published:

Australasian Mortgage Finance Limited Offer Document

AMF - Directors Declaration

Published:

Australasian Mortgage Finance Limited Directors Declaration

Announcements

Australasian Mortgage Finance Ltd – AMF Announcement

AMF - Appointment Or Cessation Of A Company Officeholder

Published: 09/06/2017

On 09/06/2017, AUSTRALASIAN MORTGAGE FINANCE LIMITED (ASSOB Code: AMF) lodged with ASIC a Form 484 Change To Company Details – 484E Appointment Or Cessation Of A Company Officeholder.

Australasian Mortgage Finance Ltd – AMF Announcement

AMF - Proposed Appointment of Financing arranger and funding trusts progress

Published: 01/09/2017

Dear Investor

Proposed Appointment of Financing Arranger and Funding Trusts progress

AustralAsian Mortgage Finance Limited (AMF or the Company) is pleased to provide an update on operational progress made over the past few weeks.

Proposed Appointment of Financing Arranger

Following weeks of discussion and negotiation, AMF has received a written offer from an Australian investment bank (Arranger) of engagement terms to act as the adviser and facilitator in relation to the financing of AMF’s funding trusts.

As part this engagement, the Arranger will arrange on AMF’s behalf certain funding facilities for the Company to originate Australian residential mortgages for foreign borrowers and Australian temporary resident visa holders. It is proposed that the Arranger will also provide securitisation services with respect to the proposed RMBS program for AMF’s funding trusts.

The funding facilities are currently expected to include:

  1. A general warehouse facility for the funding of standard residential mortgages; and
  2. A construction loan facility for the funding of loans for house and land packages.

The company’s directors are currently reviewing the proposed engagement terms for the appointment of the Arranger, and expect to make a further announcement on the appointment in coming days.

Progress in relation to Funding Trusts

We are also pleased to announce that, AMF is in advanced discussions with a large international bank in connection with the provision of senior debt finance, and two investment firms with regard to the provision of mezzanine finance. Terms sheets are currently under review, with an expectation that final terms will be agreed within the next few weeks, and formal funding documentation prepared in due course thereafter.

We expect to make additional announcements shortly as further progress is made.

We thank you for your continued support. I can be contacted on +61 456 644 227 if you wish to contact me directly should you have any questions regarding this update or AMF’s business and progress generally.

Kind regards

Stephen Conrad
Chairman

AustralAsian Mortgage Finance Limited

Australasian Mortgage Finance Ltd – AMF Announcement

AMF - Directors Resignation

Published: 19/09/2017

Please click to view the ASIC notification

Australasian Mortgage Finance Ltd – AMF Announcement

AMF - Offer Closed

Published: 22/01/2018

The AustralAsian Mortgage Finance Limited (AMF) Offer Document closed on 20 January 2018, having raised $818,451.00. Should you wish to get in contact with AMF, please email info@australasianmortgage.com.

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