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Hypoport AG: Cumulative transaction volume tops EUR250 billion
DGAP-News: Hypoport AG / Key word(s): Quarter Results
Hypoport AG: Cumulative transaction volume tops EUR250 billion
15.04.2016 / 15:58
The issuer is solely responsible for the content of this announcement.
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Hypoport AG: Cumulative transaction volume tops EUR250 billion
15.04.2016 / 15:58
The issuer is solely responsible for the content of this announcement.
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Press release
Volume of EUROPACE transactions in the first quarter of 2016
Cumulative transaction volume tops EUR250 billion
Berlin, 15 April 2016: The total volume of loans requested via the EUROPACE
platform in the past fifteen years has exceeded the EUR250 billion mark. In
the first quarter of 2016 alone, the transaction volume was EUR10.4
billion.
The personal-loans product segment was up by 33 per cent on the same
quarter in 2015, rising from EUR0.4 billion to EUR0.6 billion. The Bauspar
product segment was down slightly, declining by 6 per cent from EUR1.8
billion to EUR1.7 billion, and the mortgage finance segment experienced
small decrease of 8 per cent, from EUR8.8 to EUR8.1 billion. Consequently,
the transaction volume across all product segments, which amounted to
EUR10.4 billion, was slightly below the total of EUR11.1 billion for the
first quarter of 2015. "It was clear that we would fall just short of the
record earnings generated in the first quarter of 2015," said Thilo
Wiegand, Chief Executive Officer of Europace AG. "However, having achieved
a transaction volume in excess of EUR10 billion in the current
circumstances is still an encouraging result.
"The mortgage-finance product segment was the hardest hit by the
introduction of the Mortgage Credit Directive on 21 March 2016, because it
necessitated making extensive changes to processes at product suppliers and
distributors," explained Wiegand. "As a result of the need to switch
systems, some suppliers have temporarily withdrawn from the market
altogether, which has naturally had an adverse impact on the number of
transactions."
At the same time as the introduction of the Mortgage Credit Directive,
EUROPACE successfully completed the development of its new BaufiSmart front
end - the biggest IT project in its history. "Now all EUROPACE partners are
working with the most innovative front end in the market," enthused
Wiegand. "This has taken effort and resources. And, of course, a change of
this kind means an initial readjustment for all users," he acknowledged.
"But anyone who works with it for a while, very quickly sees the huge
benefits. Users are telling us that BaufiSmart has enabled them to increase
the effectiveness of their mortgage finance advice by more than 50 per
Volume of EUROPACE transactions in the first quarter of 2016
Cumulative transaction volume tops EUR250 billion
Berlin, 15 April 2016: The total volume of loans requested via the EUROPACE
platform in the past fifteen years has exceeded the EUR250 billion mark. In
the first quarter of 2016 alone, the transaction volume was EUR10.4
billion.
The personal-loans product segment was up by 33 per cent on the same
quarter in 2015, rising from EUR0.4 billion to EUR0.6 billion. The Bauspar
product segment was down slightly, declining by 6 per cent from EUR1.8
billion to EUR1.7 billion, and the mortgage finance segment experienced
small decrease of 8 per cent, from EUR8.8 to EUR8.1 billion. Consequently,
the transaction volume across all product segments, which amounted to
EUR10.4 billion, was slightly below the total of EUR11.1 billion for the
first quarter of 2015. "It was clear that we would fall just short of the
record earnings generated in the first quarter of 2015," said Thilo
Wiegand, Chief Executive Officer of Europace AG. "However, having achieved
a transaction volume in excess of EUR10 billion in the current
circumstances is still an encouraging result.
"The mortgage-finance product segment was the hardest hit by the
introduction of the Mortgage Credit Directive on 21 March 2016, because it
necessitated making extensive changes to processes at product suppliers and
distributors," explained Wiegand. "As a result of the need to switch
systems, some suppliers have temporarily withdrawn from the market
altogether, which has naturally had an adverse impact on the number of
transactions."
At the same time as the introduction of the Mortgage Credit Directive,
EUROPACE successfully completed the development of its new BaufiSmart front
end - the biggest IT project in its history. "Now all EUROPACE partners are
working with the most innovative front end in the market," enthused
Wiegand. "This has taken effort and resources. And, of course, a change of
this kind means an initial readjustment for all users," he acknowledged.
"But anyone who works with it for a while, very quickly sees the huge
benefits. Users are telling us that BaufiSmart has enabled them to increase
the effectiveness of their mortgage finance advice by more than 50 per
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