About Brighten Home Loans
Brighten Home Loans is an Australian-owned and regulated nonbank lender with offices in Sydney, Melbourne, Brisbane, Hong Kong and Shanghai. Brighten was established and commenced lending in 2017. Brighten has an innovative product offering, including prime and near-prime, nonresident and construction loans, and has grown its AUM to more than A$800 million and its team to more than 70 finance professionals.
Brighten is a full-service nonbank provider, responsible for the origination, underwriting, servicing and funding of its mortgage portfolio. With an end-to-end digital mortgage-solution platform that drives innovation to achieve cost and service efficiencies, as well as an experienced leadership team, Brighten is well placed for growth.
The company also has a strong focus on corporate governance, corporate social responsibility and environmental sustainability, which are the key pillars of Brighten’s culture. Brighten is a “pay equity ambassador” of the Workplace Gender Equality Agency in recognition of the company’s commitment to closing the gender pay gap. In July 2021, Brighten became a member of the Responsible Investment Association Australasia and a Plant-a-Tree Program “partner for carbon neutral”, further to strengthen its commitment to ESG.
|SIZE OF LOAN BOOK||A$800M|
|MAKEUP OF LOAN BOOK||RESIDENTIAL MORTGAGES: 100%|
|GEOGRAPHIC DISTRIBUTION OF LOAN BOOK||AUSTRALIA: 100%|
|OUTSTANDING DEBT ISSUANCE||WAREHOUSE FACILITIES: A$850M
CREDIT FUND: A$200M
Ownership, history and capital structure
Brighten is a 100% owned entity of the Real Asset Management Group(RAM), an Australian-owned wealth- and asset-management firm with a focus on the credit and fixed income, real-estate and private-equity asset classes.
Brighten benefits from the strong support of RAM along with the experienced leadership and institutional relationships that have been developed over RAM’s 11-year history.
Through its focus on profitable niches in the initial growth stage, Brighten has been able profitably and sustainably to grow its mortgage portfolio since inception. In the past 12 months, Brighten’s focus has been on building capabilities and expertise, increasing the size of its credit and operations teams, and further improving distribution networks nationally.
In parallel, Brighten has conducted significant investment in developing an end-to-end digital-mortgage solution through its innovative propriety platform that will deliver cost and service efficiencies for brokers and customers.
Following the successful launch of its resident mortgage programme focused on self-employed and SME borrowers, Brighten is generating strong financial performance with total originations increasing more than 400% on the previous year. From this strong financial position, Brighten is well placed sustainably to scale its business to be a significant player in the nonbank lending space.
Brighten has established multiple warehouse-funding arrangements with global investment and domestic banks, with further funding diversification provided through a wholesale credit fund. In April, Brighten celebrated a big milestone as it priced its inaugural A$366.5 million RMBS transaction, backed by loans to nonresident borrowers, and Australian residents and citizens serviced by foreign income. The deal was significantly oversubscribed with demand spread across geographic regions.
Brighten’s long-term focus is to be a regular issuer as it develops its capital-markets programme in the resident and nonresident sectors. The company takes a proactive approach to its funding arrangements through actively engaging potential funders to develop new funding lines, which will enable Brighten to scale its growth effectively and enter new product segments.
FOR FURTHER INFORMATION PLEASE CONTACT:
Head of Funding and Securitisation
+61 2 8880 6691
nonbank Yearbook 2022
KangaNews's seventh annual guide to the business and funding trends in Australia's nonbank financial-institution sector.