04 April 2003 12:00am

Mortgage funder and now aspiring mortgage broker Resimac is looking for more capital, in the wake of a shareholder agreement to buy back a quarter of the company's shares from one foundation shareholder, the state of New South Wales.

Resimac, previously known as Fanmac, reached shareholder agreement late last month to buy back the NSW government's 24.5 per cent stake in the group for $2.63 million. The NSW government funded the buyback by supplying Resimac with a soft loan for the same amount, at an interest rate of five per cent.

The board said in the information...