Listed financial services group Firstfolio has bolstered its national reach by signing a distribution deal with Queensland mortgage services group MyLender.
This is the second deal Firstfolio has signed in a month. Last month the group secured distribution in Tasmania through Apple Loans.
As part of the agreement, MyLender founders Peter Mellor and Steve Essenstam will become Firstfolio area directors for the Brisbane region.
"In MyLender, Peter and Steve have built a very strong business with a great reputation in Brisbane. The partnership agreements complement each business well, and Firstfolio will play an important role helping grow the MyLender business," Firstfolio chief executive Mark Forsyth said.
Commenting on the agreement, MyLender director Steve Essenstam said: "MyLender brokers have signalled clear demand for Firstfolio products amongst their clients, and we expect to develop a very healthy working relationship with Firstfolio."
Firstfolio offers a wide range of residential lending products to mortgage brokers and aggregators. The group has a portfolio of residential loans under management at around $8 billion as at December 2007.
The MyLender deal increases Firstfolio's nationwide network to more than 800 mortgage consultants.
