ORDE Financial sets record with $1 billion RMBS launch

It plans to continue "disrupting the market"

ORDE Financial sets record with $1 billion RMBS launch

Non-bank mortgage lender ORDE Financial has priced its first Residential Mortgage-Backed Securities (RMBS) public term issuance, amounting to $1 billion – setting a new record as the largest inaugural non-bank RMBS issuance in the country.

The National Australia Bank acted as the arranger and joint lead manager, with the Commonwealth Bank of Australia, Macquarie Bank, and Westpac Banking Corporation serving as joint lead managers.

Since its launch in late 2020, ORDE Financial has become Australia’s fastest-growing non-bank mortgage lender, with its growth mainly attributed to its commitment to the broker market.

“We are delighted to price ORDE’s highly anticipated first RMBS term issuance,” said Ryan Harkness (pictured above right), managing director at ORDE Financial, who also oversaw the transaction. “As a key milestone, it reflects the dedication of our whole team of over 100 professionals and the support we’ve received from our many partners, investors, and shareholders.

“The transaction diversifies ORDE Financial’s funding sources and investor base, and we intend to be a regular RMBS issuer, building and extending our strong relationships with leading Australian and international investors.”

Paul Wells (pictured above left), CEO and joint managing director at ORDE Financial, emphasised the company’s responsible growth and commitment to serving borrowers and investors with integrity and transparency.

“The same themes underpinned the three-year period prior to this inaugural term deal, during which our established funding partners provided unprecedented support levels for ORDE’s high growth,” Wells said.

ORDE Financial was named as one of the best non-bank mortgage lenders in Australia in MPA’s Brokers on Non-Banks 2023 survey.

According to Wells, the company’s future plans include disrupting the market further as it intends to launch a retail investor product, the ORDE Income Fund, aimed at delivering significant improvements and returns.

“The ORDE Income Fund aligns with ORDE’s mission of delivering significant improvements through reliable innovation,” Wells said. “We have been patiently preparing this product, and our highly experienced team is passionate about what this will deliver to Australian retail investors.”

Wingate, an alternative investment manager, backs ORDE.

“Wingate is proud to have backed Paul and Ryan, and the whole ORDE team in developing ORDE into an institutional-grade, innovative, and growing non-bank lender and investment manager,” said Farrel Meltzer, chief executive and chairman at Wingate.

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