Orig­i­na­tion con­tracts re­newed with ‘big four’

Weekend Argus (Saturday Edition) - - PROPERTY -

THE PA GROUP has re­newed its bond orig­i­na­tion con­tracts with all four ma­jor South African banks and it is now busi­ness as usual for its orig­i­na­tion busi­nesses, Bet­ter­bond and Mort­gage Al­liance, says chief ex­ec­u­tive Rudi Botha.

“The fact that Stan­dard Bank also re-signed our bond orig­i­na­tion con­tract should en­hance our vol­umes by at least 30%,” says Botha.

The an­nounce­ment fol­lows wide­spread me­dia re­ports that banks are rene­go­ti­at­ing home loan sub­mis­sion con­tracts and com­mis­sion struc­tures with the var­i­ous mort­gage orig­i­na­tors.

Botha says sourc­ing bonds is a chal­leng­ing task in a credit-crip­pled South Africa, see­ing that mort­gage orig­i­na­tors are re­spon­si­ble for se­cur­ing their clients the most suit­able home loan so­lu­tion.

“This is done at no cost to the client what­so­ever, as bond orig­i­na­tors take com­mis­sion from the bank the client chooses to sign up with. Bond orig­i­nat­ing ser­vices know of all the prod­ucts avail­able at each bank and can there­fore se­cure fi­nan­cially fea­si­ble deals by sav­ing con­sumers lots of pa­per­work, money and time,” says Botha.

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