What is a mortgage manager, and how is it different from a bank, a lender or a broker?

Last updated 6 November 2026 · Reviewed by 360 MMS Compliance

What does a mortgage manager do?

A mortgage manager sits between the borrower and the funder. It designs and offers loans, works with brokers and borrowers, and assesses each application against the funder's lending criteria and credit policy before the application goes to the funder for a decision. After settlement, it usually looks after the loan day to day: repayments, changes to the loan, hardship requests and discharges.

How is a mortgage manager different from a bank?

Banks are authorised deposit-taking institutions. They take deposits from customers and lend that money along with other funding, and they look after the loans they make. A mortgage manager doesn't take deposits. Its loans are funded by wholesale funders, and the mortgage manager is the team you deal with.

Mortgage managers are part of the wider non-bank lending market, and their loans are often designed for self-employed borrowers, companies and trusts, and expats.

How are mortgage managers different from non-bank lenders?

Both operate outside the banking system, and the line between them can blur. Non-bank lenders provide the loan themselves, using wholesale funding rather than deposits. A mortgage manager arranges and manages loans that a funder provides. For you as a borrower, the experience can be much the same.

How is a mortgage manager different from a mortgage broker?

A mortgage broker works for you, not for one lender. The broker looks at your goals and finances, compares loans from a panel of lenders and mortgage managers, and recommends one that's in your best interests. The broker then lodges the application and helps you through to settlement, but doesn't fund or manage the loan.

A mortgage manager is one of the options a broker can compare.

Banks, non-bank lenders, mortgage managers and brokers compared

Are mortgage managers regulated?

Yes. Anyone who arranges or provides home loans to individuals needs an Australian Credit Licence, or must be a credit representative of a licensee, and must follow the responsible lending rules in the National Consumer Credit Protection Act. That means making reasonable inquiries about your needs and finances, verifying what you tell them, and not offering a loan that's unsuitable for you. Licensees must also belong to the Australian Financial Complaints Authority (AFCA), so you have somewhere to go if a complaint isn't resolved. You can check a licence on ASIC's professional registers.

How do I choose a mortgage manager?

Questions worth asking include:

• Does it hold an Australian Credit Licence, and is it an AFCA member?
• Who funds its loans?
• Does it have loans designed for your situation, such as self-employed income, a company or trust, or a commercial property?
• What is the total cost, including fees and charges?

An accredited broker can compare these options for your situation.

What are the pros and cons of working with a mortgage manager?

Possible pros:

• Loans can be designed for borrowers whose circumstances don't fit a bank's standard policy.
• You deal with the mortgage manager's own team, through a broker or directly.
• The mortgage manager usually looks after the loan after settlement, so you know who to contact.

Possible cons:

• A mortgage manager doesn't take deposits, so it may not offer the wider banking products a bank does.
• Loans for more complex situations can cost more, so compare the total cost.
• Loan ranges differ between mortgage managers, so not every loan type is available from each one.

How do I apply through a mortgage manager, step by step?

1. Talk to your broker or our team. A broker can compare mortgage manager loans with your other options, or you can apply directly.
2. Gather your documents. Your broker or the mortgage manager tells you what's needed, such as identification, evidence of income and details of the property.
3. The assessment. Your broker will assess your income and financial situation. The mortgage manager assesses the application against the funder's lending criteria, and the funder makes the decision.
4. The offer. If the application is approved, you receive a loan offer and loan documents to read and sign.
5. Settlement. The loan settles, and the mortgage manager looks after it from then on.

How can 360 MMS help?

360 MMS is a mortgage manager, and its loans are arranged through accredited mortgage brokers or directly. We can help with:

• Home loans: full doc and alt doc home loans, including for self-employed borrowers.
• Commercial property loans: full doc, alt doc and lease doc.
• Companies, trusts and SMSFs: borrowing through a company or trust, and SMSF loans for funds with a corporate trustee.
• Borrowers overseas: Australians working overseas, and non-residents buying in Australia.
• After settlement: our Customer Hub team helps with repayments, variations, hardship requests and discharges.
• Getting started: apply through an accredited mortgage broker, or contact our team directly.

FAQs

Sources and further reading:Moneysmart: Using a mortgage broker · Moneysmart: Authorised deposit-taking institution (ADI) · ASIC: Professional registers

General information only. It doesn't take into account your objectives, financial situation or needs, and it isn't credit, tax or legal advice. All loans are subject to lending criteria, and fees and charges apply. Kuone Pty Ltd T/As 360 MMS (ABN 81 621 683 672), Australian Credit Licence 504193.