APAC / Issue Q3 2021 15 , Mar21023 Best Global Real Estate Financing Company 2021 GMG’s core values come from their mission statement which is to “Create a world where getting a mortgage where you don’t live is easier, more transparent, faster and cheaper”. The network-effect of their mission statement and core values means that it develops positive “word of mouth” (globally) of the availability, accessibility, and positivity of the client journey. The company has taken an industry that is fragmented and not sophisticated and implemented a best-in- class investment-banking type approach to mortgage broking. They treat their clients professionally, using discretion, respect and understanding, and makes the process more transparent than any other existing options available. GMG’s clients are across the world and count up to 70 countries, with most of their business coming from Hong Kong, Singapore, Canada, UK and Australia, and the remaining scattered across Asia and Europe. They offer residential mortgages to the US, UK, Canada, Australia, Europe, Singapore, Thailand, and Japan, and separately, offer larger structured-debt lending globally for those who require a more sophisticated solution from institutional lenders. Their clients tend to be both affluent and financially literate. They understand global trends in asset prices, where they can generate strong rental income and which markets are affordable – especially with clients in Hong Kong and Singapore where real estate prices are the highest globally when compared to disposable income. GMG’s team puts a lot of effort into thinking where the world could be in six months, one year, three years and five years and puts a “small bet” in each of those pockets to get a head-start if it plays out the way it was thought. This could be discussions on tokenisation, strategic partners, or key technology initiatives, to name a few. Frankly and honestly speaking, they underestimated how strong the market reaction would be to COVID-19 and the business was not set up structurally so it could expand. When COVID-19 reared its ugly head in early 2019, GMG became defensive very early – cutting operating expenses, halting hiring plans, and postponing their growth initiatives. This was only met with the biggest mortgage cycle in the history of the world, everywhere! Historically-low rates, unprecedented financial stimulus, geopolitical uncertainty, working from home trends, Millennial consumption shifts – all added to more people buying new homes, looking for overseas investments, refinancing into lower-rate loans, etc. Some would consider this to be a “good problem to have” but as a start-up, it was a tough six- month period to “put out fires” while continuing to expand the business. However, where the company has been positively surprised is the opportunity that became available with high-net-worth individuals. It seems that as traditional banks and country-specific regulatory regimes towards mortgage lending become tougher, the ability to meet qualifying criteria becomes harder and harder. To put it in another way, it’s not that those banks don’t want to lend – they can’t. Meanwhile, the solutions that high-net-worth individuals require are more sophisticated and require an institutional approach which fits perfectly with GMG’s mission statement and core values. Therefore, it has become onboarded by institutions such as private banks who trust its professionalism and sophistication when working with their clients. GMG is currently applying for their US banking license through their wholly owned subsidiary, America Mortgages, which they plan to fold their technology ambition into. They will continue to expand their partnerships with institutions globally to replicate the success they have had with Asia-based financial institutions. They are also exploring some exciting “strategic” initiatives which are top secret for now! Company: Global Mortgage Group Contact: Donald Klip Email:
[email protected] Website: www.gmg.asia www.americamortgages.com Global Mortgage Group (GMG) was created as a technology solution for non-residents looking to secure a USmortgage. Their vision has evolved to include building a global brand for international mortgage origination, which does not currently exist in the world. What GMG offers to their clients is transparency in amortgage process, more loan options to choose fromand understanding of their needs. Robert Chadwick CEO of America Mortgages and Partner and Founder of GMG Donald Klip Co-founder of GMG