Firstfolio (FFF)

Shares / Stock Code

FFF

Stock Exchange / Sharemarket

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Firstfolio (FFF) (formerly Affiance Group Limited) specialises in mortgage finance and related services. The company has two main business units: Wholesale Lending and Aggregation Lending. FFF has undergone considerable growth since its establishment in 1988 and subsequent listing on the Australian Stock Exchange in 2000. FFF established its wholesale business in July 2000 to provide wholesale mortgage funds and mortgage management services to small and medium size originators and brokers. The Lawfund business was fully acquired by FFF in October 2007.

The Company’s subsidiaries include New-Loan Australia Pty Limited, Firstfolio Services Pty Limited, Firstfolio Wholesale Pty Limited, Aptura Developments Pty Limited, Probitas Group Pty Limited and Lawrealty Victoria Pty Limited. On November 1, 2008 Firstfolio Limited acquired 100% interest in the eChoice Pty Limited and Domain Financial Services Pty Limited. In December 2009, the Company acquired First Chartered Capital Corporation Pty Ltd (FCCC) and its subsidiaries.

FFF's differentiating factor is its ability to innovate which is demonstrated by the development of the Indexed Shared Appreciation Mortgage (iSAM). The iSAM licence enables the design of a number of innovative lending products and enables the borrower to pay a below-market rate of interest on a portion of their home loan in return for a share of the equity once the home is sold. Affiance holds the exclusive license for this innovative lending product.

Firstfolio's main competitors include other providers of mortgage and other financial services in Australia, including the major banks. Its core customers include wholesale mortgage funds, and small and medium size mortgage originators and brokers. The major competitors of FFF in the non-bank Australian mortgage management market include: Mortgage Choice, Challenger Financial Group and Australian Finance Group.