the loss from the the lending business is purely related to set up costs. They have been making a lot of money as a broker for non conforming loans but by lending the money themselves they will make slightly more than double this. As they only lend in Australia and only up to 80% of property valuation they are protected from any major writedowns. In addition if they have to foreclose they are in the ideal position to do this being a bankruptcy agent.
lending a loss maker for fsa, page-3
Add FSA (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
83.5¢ |
Change
0.005(0.60%) |
Mkt cap ! $101.3M | |||
| Open | High | Low | Value | Volume |
| 85.0¢ | 89.5¢ | 83.0¢ | $86.84K | 103.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1300 | 83.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 90.0¢ | 38988 | 1 |
View Market Depth
| Last trade - 14.56pm 06/09/2024 (20 minute delay) ? |
| FSA (ASX) Chart |