AIMS Home Loans is one niche lender earning a tidy return for its shareholders. The Sydney-based mortgage manager, which raised fresh wholesale funding shortly before debt markets turned sour in mid 2007, reported net profit of $6.6 million in the year to June 2008. And the company paid out 97 per cent of the profit as a dividend.The 2008 profit also represents a return on equity of 120 per cent, consistent with the return on capital enjoyed the year before.AIMS Home Loans is a subsidiary of AIMS Financial Group, a niche investment banking group that counts Greg Bundy, a former vice chair of Merrill Lynch Asia Pacific as a director. George Wang is the CEO of AIMS.The home loan business has to file special purpose accounts with ASIC, presumably due to the securitisation arrangements for the home loans business, while the parent company does not.The accounts show AIMS had mortgage assets of $855 million at June 2008, up from $644 million in 2007, while AIMS undertook $567 million in new lending during the 2008 year, up from $212 million in 2007.On the liability side the accounts show $727 million funded through debt securities, presumably the securitisation trust set up in 2007 and the residual of any prior trusts, and $203 million funded through a bank warehouse.