13 July 2012 7:06am

Jonathan Flaws left his job in a New Zealand corporate law firm in 2001 to set up his own practice and establish a mortgage servicing business, First Mortgage Services.

The company entered the Australian market in 2004, when it won a contract to provide mortgage services to a specialist reverse mortgage lender.

In 2007, the company was acquired by listed US company First American Financial Corporation.

Flaws kept all this activity very much under the radar until yesterday, when Perpetual announced that it had agreed to sell its mortgage servicing business to First...