Two large financial services groups have increased their stakes in the mortgage industry.
Count Financial acquired an additional 10.3 per cent stake in Mortgage Choice on Friday, taking its total strategic interest in the company to 15.2 per cent.
This makes Count the largest individual shareholder in Mortgage Choice, Count said.
On the same day the Commonwealth Bank of Australia (CBA) announced it had reached an agreement to acquire a 33 per cent share in Aussie Home Loans (Aussie).
As the mortgage broker market continues to develop, a strategic investment in one of the leading providers was a natural fit for CBA, the company's chief executive Ralph Norris said.
CBA will have a minority representation on the Aussie board, with no management involvement in the day-to-day running of the business.
Aussie would continue to provide its mortgage broking service on behalf of a panel of 17 different lenders, including CBA, Aussie said.
Aussie has a loan book of $24 billion with more than 220,000 customers, processing about $1 billion worth of new mortgages a month.
Count acquired an initial 4.9 per cent stake in Mortgage Choice in July this year.
