Royal Commission Recommendation’s Damage Mortgage Choice Business Model. Stock Under Review
In our view, the Royal Commission’s recommendations on mortgage broker remuneration, tougher licensing requirements and that mortgage brokers act in the best interest of clients, damage Mortgage Choice’s business model to such an extent we put the stock under review, with a cut to our fair value estimate likely. The firm’s stock price is down more than 25% today following release of the recommendations, with the firm’s official response understandably broad and general. We intend to update our v...Mortgage Choice is engaged in mortgage broking. Co.'s activity includes: the provision of assistance in determining the borrowing capacities; the assessment, at the request of those borrowers, of a range of home loan or other products; and the submission of applications on behalf of prospective borrowers.
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