Deals
This Tiny Mortgage Lender Bets on Beating Japan's Giants
- Mortgage lender Aruhi targets top spot in loans in five years
- Firm has already overtaken one megabank in annual originations
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A little-known mortgage lender is taking on Japan’s giant banks, betting it will overtake them in home loans.
Aruhi Corp. vows to increase annual originations to more than $11 billion over the next five years to become the top company in the industry, even though the megabanks are at least 90 times its size, according to Hiroshi Hamada, Aruhi’s chairman and chief executive officer. Its secret? Cheap rates, less red tape, and securitization -- but not, it says, the kind that’s often blamed for causing the global financial crisis.