Vernon  Spencer is credited with being  the ‘inventor’ of mortgage broking  in Australia. Vernon  is Executive Chairman of the Stargate Corporation Group.  Stargate provides a broad range of specialist mortgage underwriting, processing, technology, and  management services through its financial services, global asset management, and technologies divisions, and is a market leader in these segments of the Australian mortgage industry. Vernon’s career includes diverse experience in accounting and  financial services. In 1972  he founded Stargate Corporation, which quickly became a market leader in the business of mortgage banking, loan processing, and  asset management. In 1978 he was  responsible for the first issue of mortgage-backed securities in Australia  and  the beginning of the secondary mortgage market in this country. The big switch from broker  to originator  came in 1992 when  Vernon  formed  Interstar Securities. This company became one  of the nation’s largest non-bank wholesale loan financiers, providing housing finance through mortgage managers and  mortgage brokers, and  funded by the issuance of mortgage-backed securities to major institutions and  investors in Australia, Europe, Asia, and  USA. In 2003  Stargate’s Interstar business was  acquired by Challenger Financial Services, a listed major diversified financial services group. Vernon  has  always been prepared to ‘walk the talk’ – he is so committed to ensuring there will always be funds  available to make sure  there  are  surf life savers at Portsea, he has  been Trustee of the Portsea Surf Lifesaving  Foundation since it started in 1959  more  than 50 years ago.  Vernon  has  been a Trustee of the Burnet Institutes’  Sir Zelman Cowen Foundation for Medical Research and  Public Health  since its inception in 2003.

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