Sucasa appoints Head of Credit and Underwriting and Head of Distribution; launches broker portal
SYDNEY, April 11: Sucasa, an AI-driven low-deposit mortgage lender, is excited to announce the strategic hires of Paul Coloe as Head of Credit and Underwriting and David Ewens as Head of Distribution as it launches into the broker channel.
These key hires come as Sucasa invests in the broker channel and expands its reach across Australia. Sucasa’s mission is to get hard working Australians home sooner by providing the lowest cost low deposit mortgages in Australia.
"We are thrilled to welcome Paul and David to the team as we build a best-in-class broker offering", says Mario Emmanuel, co-founder and CEO of Sucasa. "Paul’s over 30 years of experience in Lender’s Mortgage Insurance (LMI) and low deposit underwriting is invaluable as we grow our book and product coverage. Similarly, David has built a 20 year track record as a trusted partner to brokers, and is culturally aligned with us as we look to forge partnerships with brokers for the decades to come."
Sucasa’s innovative product provides Coloe, whose 30 years experience includes 10 years as head of underwriting for QBE’s LMI, with a fresh challenge and more flexibility to build a credit capability with the express purpose of finding the best low-deposit borrowers in Australia.
“LMI has been a valuable support to getting Australians into homes. That said, Sucasa’s value proposition and focus on quality underwriting is a needed reprieve for quality borrowers facing a growing set of challenges in securing a home loan,” says Paul. “We allow high quality borrowers access to similar interest rates they would get through major banks, but with materially lower deposits. Our structure maximises our clients purchasing power, and they love us for it - seeing our clients realise their dreams sooner than they thought possible is the best part of what we do at Sucasa.”
Ewens will use his more than two decades of experience in broking to build out the broker channel and further develop partnerships with aggregators and brokers. He aims to empower brokers to help more clients achieve home ownership.
"Sucasa recognises the important role brokers play in the Australian mortgage industry and we’re excited to prove our value proposition to them," said Ewens. "We believe Sucasa fills a critical gap in the broker arsenal by improving client purchasing power and enabling clients to purchase materially sooner than existing options. I couldn’t be more excited about the impact we’re going to create for our brokers and their clients - great young Australian families.”
With these key hires, Sucasa is poised to further enhance its reputation as the leader in low cost, low deposit home loans. For more information about Sucasa and its initiatives in the low-deposit mortgage market, please visit https://www.sucasa.com.au/
About Sucasa
Sucasa is an AI-driven lender providing low deposit home loans to quality borrowers.
Sucasa’s flagship product is 6.05% interest rate, 98% LVR, 30yr mortgage with fees lower than LMI. Sucasa’s founding team have experience across UBS, Barrenjoey, Bain & Company, Stripe, Athletic Greens and Technology and Real Estate investing. The company's investors include US VCs Zigg and 1984 and prominent Australian angel investors.
