The mortgage arm of Hong Kong-based developer Far East Consortium (FEC) has acquired a 53 per cent stake in Australian non-banking lender Mortgageport as part of a strategic partnership.Mortgageport has provided home loans to more than 15,000 customers and has more than A$1.5 billion (US$1.1 billion) of mortgage assets under management. The deal is expected to unlock the hidden value of FEC’s property and create new revenue streams, according to Chris Hoong, its managing director.The…
Source : South China Morning Post
Read more…Hong Kong firm Far East Consortium’s mortgage arm eyes market Down Under, acquires stake in local non-banking lender
