Sintex Consolidated is an independent nonbank financial institution which has originated small-ticket commercial mortgage loans since 2003 and which in 2012 expanded originations to include residential mortgage loans. Sintex was rebranded and has operated as Loanworks since 2019.

Loanworks’ strategy focuses on the simple and certain delivery of fully documented residential and commercial mortgage loan products to prime borrowers. This is achieved by:
• Focusing on simple ‘full-doc’ products with clear credit criteria, supported by processes and systems which allow applications to be assessed within 24 hours.
• Limiting distribution to approved Australian credit licence holders – mortgage managers with appropriate resources and infrastructure, and brokers.

All credit underwriting, loan administration, loan servicing, special servicing and trust management functions are completed in-house by Loanworks, with no delegations to third parties.

Credit performance is consistent with an asset portfolio comprising full-documentation loan products to prime borrowers, conservative lending policies and a prudent approach to loan portfolio management.

Since commencing operations, Loanworks has recorded cumulative total net loss of A$1.1 million in its small-ticket commercial lending and no net losses in its residential mortgage lending portfolio.

Loanworks targets a funding mix where 75% of its portfolio is funded by public markets and 25% by private origination warehouses.

In line with this objective, Loanworks has increased its warehouse capacity and recently completed its third public residential mortgage-backed transaction – Blackwattle Series RMBS Trust No.3.

The Loanworks portfolio continues to grow, underpinned by a strong customer focus and with processes and systems aligned to strategic objectives. Financial performance continues to improve with scale, while reinvestment of profits has contributed to growing balance sheet strength.

Satish Chand
Chief Executive Officer
+61 2 9278 9708
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Yotta Agamemnonos
Director, Lending
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www.loanworks.com.au