Report
David Ellis
EUR 101.80 For Business Accounts Only

Mortgage Choice delivers attractive returns, but the mortgage broker industry remains competitive.

No surprises in no-moat-rated Mortgage Choice’s strong, but brief third-quarter fiscal 2017 update. Record breaking first-half fiscal 2017 momentum continues due to a buoyant home loan market--particularly in New South Wales and Victoria. Strong growth in the core mortgage broking business was supported by impressive growth in the smaller financial planning division. Mortgage inquiries jumped 8% to a record high compared with third-quarter fiscal 2016, with home loan applications up 6%, and home...
Underlying
Mortgage Choice Ltd.

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Ellis

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