Oz Direct Mortgage Fund

Our Purpose

Oz Direct Mortgage Fund (“Oz Direct”)

Oz Direct sources borrowers with suitable lending proposals for business, and commercial purposes only, and raises the required loan funding exclusively from Wholesale investors.

Wholesale investors become members of the fund after reading the Information Memorandum and completing the Registration Form within.

Once a suitable mortgage investment opportunity has been sourced, assessed and approved in accordance with Oz Direct Credit Policy, registered Wholesale investors of the fund will indicate whether they would like to receive a Syndicate Information Memorandum (Syndicate IM), Security Property Valuation Report, and other supporting information outlining the specifics of the mortgage investment.

The prospective investor will then carefully review and consider the Mortgage Investment in detail before deciding whether to invest. 

The interest rate may vary from each mortgage investment to the next, depending on a range of factors, some of which will include the overall risk assessment, Loan to Value Ratio (LVR), track record, project feasibility, term of the loan, and various economic and market conditions. 

Each Mortgage Investment (loan) is also known as a sub-scheme, whereby investors acquire units in the relevant sub-scheme they wish to invest in – proportionate to the dollar value invested, and each particular sub-scheme is held separately to other sub-schemes within the Fund. Unlike pooled mortgage funds, the investor chooses which mortgage they wish to invest in.

Oz Direct Mortgages Pty Ltd is the trustee of Oz Direct Mortgage Fund, holder of Australian Financial Services Licence (AFSL No: 518762) holder, and is also the Mortgage Manager. In its capacity as Mortgage Manager, it will manage the loan from inception, until repayment, on behalf of the investor, or syndicate of investors in each relevant sub-scheme.

Our Team

Brad White

CEO & Managing Director

Brad has developed his core base of Banking and Finance skills through a background in Commercial and Corporate Banking with BankSA for approximately 5 years. During the first year of his career, he started out primarily with smaller broker introduced business and commercial lending based transactions, where he quickly developed a reputation for achieving results, a strong work ethic and providing a high level of service. A promotion to Corporate Banking for the next 4 years is where Brad refined his banking and credit skills, which involved more complex lending transactions, financial analysis, security analysis, and relationship management with borrowers. 

Most recently, Brad had 4 years of experience managing a contributory mortgage fund (direct mortgages with both retail and wholesale investors). This role was responsible for all the day-to-day operations of the Fund.

Brad has obtained experience in establishing and managing the investments of the sub-schemes and played an active role in managing the sub-schemes at both the borrower level, and investor level, in his key front line role as Mortgage Manager. This involved liaising with finance brokers, borrowers and vetting new finance proposals, data gathering, assessing creditworthiness, instructing valuations, preparing and recommending credit applications for submission to the Credit Committee for approval. 

His role was the primary contact for all investors, borrowers, the negotiation of all commercial credit terms and fee income for the business, and the ongoing management of the loans until repayment. Additionally, he was responsible for the processing of all monthly management fees and interest distributions to investors.

Brad had a flawless track record with the lending facilities that he recommended to the Credit Committee in the past 4 years, with all having been repaid in full up until the time of his resignation. 

Phil White – Consultant and external credit committee member

Phil has the following experience:

• 43 years in banking, finance and credit (ANZ and BankSA)
• Retired in 2011 as Chief Manager, Corporate Banking, BankSA. At its peak, this included approximately 50 staff reporting to Phil and overseeing a multi-billion dollar lending business. The property finance unit was part of this division from 1998 to 2004.
• Member of BankSA Executive and Leadership Teams
• Fellow of Financial Services institute of Australia
• Past Chairman of Financial Executives Institute SA Chapter
• Past Director of Flinders Medical Centre (FMC) Foundation
• Past Chairman of the Building Committee for the Flinders Centre of Innovation in Cancer
• Completed program for Management Development as course Chairman at the Melbourne University Graduate School of Business
• Overseas study tour of a number of Banks in the US and UK focusing on credit and corporate finance