About Us
How Safe Is Challenger?
Challenger Mortgages is Australia's "number one" prime residential, white label, wholesale lender with a current portfolio of approximately 90,000 prime residential mortgages amounting to in excess of $15.3 billion in loans under management. Challenger Mortgages is a member of the Challenger Financial Services Group, an Australian Stock Exchange listed financial services company that forms part of the ASX 100 index.
Challenger has been originating, managing, and servicing prime residential mortgages and securitising portfolios backed by those assets since 1992, and more recently launched a non-conforming lending brand, Challenger Non-Conforming. In that time it has issued Residential Mortgage Backed Securities (RMBS) amounting to in excess of $20 billion into the Australian, US and European capital markets, with approximately $12.75 billion of notes currently outstanding.
It has been Challenger's ability to grow its portfolio without materially changing its lending criteria that has set it apart from its competitors in the Australian wholesale lending market. Efficient processing platforms and the highest levels of customer service has cemented Challenger as a market leader.
Challenger originates its loans via an extensive and diverse panel of independent Mortgage Managers who are responsible for sourcing borrowers who meet the Challenger lending criteria, collating a credit pack for submission to Challenger and post settlement servicing of borrower queries. Challenger is ultimately responsible for all underwriting decisions and post settlement servicing of loans in the Trusts under its management.
The quality of Challenger's people, processes and systems is best demonstrated by the "Strong" servicer rating awarded to it from Standard and Poor's, the highest rating attainable. Challenger has always prided itself as being an innovator and providing a superior level of customer service.
In 2001 Challenger was awarded Securitisation Deal of the Year for its Challenger Millennium Series 2001-2 transaction and has always been at the leading edge transaction structuring. A recent example of this being the Challenger Millennium Series 2004-4E which was not only the largest non bank securitisation by an Australian Issuer but the first to issue prime RMBS into the Sterling currency.