Resimac is an innovative provider of home loan solutions with the flexibility to meet the needs of the New Zealand home buyer. Our parent company, Resimac Group Ltd has been in operation since 1985 and in New Zealand since 2012. We are a pioneer of alternative lending with a focus on delivering competitive products and quality customer service.
At Resimac, we are committed to being a responsible lender directly to customers and we recognise the importance of ensuring we conduct business in an ethical and responsible manner. We acknowledge our obligations to our customers under the Credit Contracts and Consumer Finance Act 2003 (as amended from time to time), the responsible lending principles and the Responsible Lending Code.
Resimac Group Ltd is the Australian parent company of which Resimac Financial Securities Limited and Resimac Home Loans Limited are both subsidiaries. Resimac Financial Securities Limited has a licence issued by the Financial Markets Authority to provide financial advice. Resimac Financial Securities provides financial advice about Resimac Home Loan Limited’s home loans in limited circumstances. For more information, see our Disclosure Statement.
Our FundingThe Resimac Home Loans’ funding model comprises revolving warehouse lines and term capital. We understand the key role of investors as the term funding source for the business and we therefore write every loan with the end investor in mind.
Resimac Home Loans has a distinct funding programme from the Resimac Limited business – operating under the Versailles platform. Resimac Home Loans successfully issued its first RMBS transaction in September 2014, also the first public term RMBS deal into the New Zealand market since 2010.
Resimac Limited has met all its first occurring call options on its RMBS transactions. RESIMAC Versailles Trust Series 2014-1 was called on its first occurring call date – 15 September 2017 with subsequent term transactions issued in 2017 and 2019.
Investor requirements on deal structures and comprehensive collateral reporting are considered critical. For each term-issuance Resimac Home Loans provides comprehensive investor reporting including: bond summary, collateral and pool stratifications, monthly cashflows, performance and prepayment data. This full suite of reporting is available here.
We understand the requirements of our customers, employees and stakeholders and are building a best-in-class business that delivers against those requirements. Our corporate values are embedded within the culture of our organisation and our employee performance is evaluated with consideration to demonstration of values within their behaviour.
The Resimac journey began in Australia in 1985, with the formation of FANMAC and International Financing & Investment (IF&I). By 2001 these had evolved into RESIMAC and Homeloans Ltd respectively, before merging in 2016 to form a leading Australian alternative lender.
In 1988, FANMAC was Australia's first issuer of Residential Mortgage-Backed Securities (RMBS). In 2001 FANMAC rebranded to RESIMAC and in 2007 launched our specialist lending products, which would become a staple component of the alternative-lender sector. RESIMAC continued to grow its funding and wholesale distribution capabilities throughout the 2010s.
Meanwhile, IF&I was established as a mortgage originator before driving the emergence of the alternative-lender sector in the mid-1990s as WA Homeloans and subsequently other state brands. Listed on the Australian Securities Exchange (ASX) in 2001, the state brands were then consolidated into a national identity, Homeloans Ltd.
In 2012, RESIMAC launched began providing its diverse range of solutions to New Zealand home buyers and home owners. The company’s Auckland base is home to sales, operations and credit personnel, complementing the company’s trans-Tasman strength with local New Zealand industry knowledge.
In 2016, RESIMAC and Homeloans merged, with RESIMAC Ltd becoming a wholly owned subsidiary of Homeloans. In 2018 shareholders voted to rename the company as Resimac Group Ltd, and the organisation subsequently launched a new incarnation of the Resimac brand in Australia and New Zealand.