Ray White real estate owners, the White Family, have taken full ownership of the mortgage brokering operation Loan Market Group after buying the remaining equity held by founding X Inc finance directors John Kolenda, Jennifer Nielsen and Dean Rushton.
Loan Market Group was formed two years ago when X Inc merged with Ray White Group’s Mortgage Organisation Channels of Australasia, comprising Ray White Financial Services, Loan Market and Realestate.com.au Home Loans.
Head of online and marketing at Ray White Jennifer Nielsen told Mortgage Business that the new ownership structure of Loan Market Group would not have an adverse effect on their brokers.
“It will be business as usual for our brokers,” Ms Nielsen said.
“There are obvious synergies between mortgage broking and real estate practices. This new structure will provide greater opportunities for our brokers in terms of referral partnerships and retail branding.”
Ms Neilsen said the Group’s current executive director, John Kolenda, would be gradually phased out of the company in the coming weeks to focus on other outside business interests.