Homeloans reported solid growth in its branded mortgage business during the year to June, with settlements up 17.7 per cent to A$1.2 billion and loans under management up 3.6 per cent to $4 billion.However, a decline in the company's non-branded segment offset these gains. Non-branded settlements fell 15.6 per cent to $670 million and loans under administration fell 3.7 per cent to $4.1 billion.Homeloans operates as a mortgage manager, selling branded loans funded through wholesale funding arrangements. It also has a small securitisation program that funds origination. These make up the branded mortgage business.The company also works with brokers, describing itself as a sub-aggregator. The brokers sell a mix of Homeloans branded product and other lenders' product. The other lenders' loans make up the non-branded segment.Some of the fall in the non-branded segment relates to runoff in a number of broker businesses Homeloans acquired in 2012 when it took over Refund Home Loans. Another factor is that Homeloans is focusing on building its branded business, which generates a higher margin.Homeloans reported net profit of $5.2 million for the year to June - a fall of 6.3 per cent from the previous year.Net interest income fell 7.6 per cent to $7.2 million, while net fee and commission income rose 6.8 per cent to $16.5 million.The company is pinning its hopes for growth on its merger with Resimac. It entered into a scheme of arrangement with Resimac in July for what will be, in effect, a reverse takeover.