Wayne Ormond
Encyclopedia
Wayne Ormond is an Australian entrepreneur and businessman. He is the founder and Executive Chairman of Refund Home Loans
.
Ormond Launched Refund Home Loans in 2004; 6 years later at the age of 37 Wayne has grown Refund to a group of five companies providing integrated mortgage broking, real estate and financial services with 350 franchisees around Australia.
Wayne’s business and companies have been featured by BRW
business magazine in 11 of their flagship industry editions including BRW Fast Franchise, BRW Fast Starters and the BRW Young Rich List which features the top 100 wealthiest under 40s; in 2009 Wayne was listed at number 74. In 2009, Ormond was listed as Queensland's richest bachelor. Ormond appeared on SBS's Insight
program when the topic of discussion was intelligence.
.
After finishing high school Ormond worked with local FNQ businesses and moved to Brisbane at the age of 21 to begin a career in property. For the next seven years he worked with two major property companies, becoming Group Managing Director with four Raine & Horne franchises before the age of 30.
Wayne then joined Suncorp Metway in Brisbane before launching his business Refund Home Loans in 2004.
Ormond has now expanded into other services including Refund Financial Planning, Refund Real Estate
, Refund Property Investment and Refund Finance & Leasing.
As at October 2011, Refund Home Loans has announced that the business is going into administration.
series which showed cases of the difficulties and heartbreak faced by families threatened with losing their homes due to repossession by banks and lenders. Wayne demonstrated that these could in many cases be resolved with experienced advice. The Foreclosure Fighting Fund which will be officially launched with Today Tonight and will become a program implemented by Refund Home Loans to stop families from losing their homes. Wayne is stepping in to help families fight foreclosure.
Refund Home Loans and Mr Ormond admitted that they had made misleading statements to franchisees that they had been given approval by the Australian Competition and Consumer Commission in relation to Refund Home Loans' treatment of franchisees.
The ACCC instituted proceedings in October 2009 after receiving a number of complaints in relation to representations made by Mr Ormond. Refund Home Loans and Mr Ormond admitted that statements such as:
"Now I've spoken to the ACCC. I've done everything in accordance with the law" and
"Mate, I've had meetings with Graeme Samuel himself. I have nothing to worry about."
were false and misleading and deceptive and in contravention of sections 52, 53(c) and 53(d) of the Act.
In addition to declarations, by consent the court ordered: injunctions restraining Refund Home Loans and Mr Ormond from making such representations in the future, corrective statements to all current and some former franchisees, and
the implementation of a trade practice law compliance program, including training for Mr Ormond.
Refund Home Loans
Founder and Executive Chairman Wayne Ormond launched Refund Home Loans in April 2004 .Refund Home Loans is an Australian mortgage broking service...
.
Ormond Launched Refund Home Loans in 2004; 6 years later at the age of 37 Wayne has grown Refund to a group of five companies providing integrated mortgage broking, real estate and financial services with 350 franchisees around Australia.
Wayne’s business and companies have been featured by BRW
Business Review Weekly
BRW is an Australian weekly business magazine published by the Fairfax Media group. It regularly compiles lists which rank corporations and individuals according to various criteria, similar to Fortune magazine in the United States.BRW provides news and commentary on the economy, business and...
business magazine in 11 of their flagship industry editions including BRW Fast Franchise, BRW Fast Starters and the BRW Young Rich List which features the top 100 wealthiest under 40s; in 2009 Wayne was listed at number 74. In 2009, Ormond was listed as Queensland's richest bachelor. Ormond appeared on SBS's Insight
Insight (Australian TV program)
Insight is an current affairs television program, broadcast on the SBS network.-History:Insight started out as a national domestic current affairs program dealing primarily with Australian issues, while Dateline covered international ones....
program when the topic of discussion was intelligence.
Early life
Ormond grew up on his family’s cattle property in Far North QueenslandFar North Queensland
Far North Queensland, or FNQ, is the northernmost part of the Australian state of Queensland. The region, which contains a large section of the Tropical North Queensland area, stretches from the city of Cairns north to the Torres Strait...
.
After finishing high school Ormond worked with local FNQ businesses and moved to Brisbane at the age of 21 to begin a career in property. For the next seven years he worked with two major property companies, becoming Group Managing Director with four Raine & Horne franchises before the age of 30.
Wayne then joined Suncorp Metway in Brisbane before launching his business Refund Home Loans in 2004.
Refund Home Loans
Ormond established Refund Home Loans in 2004. Refund Home Loans is an Australian mortgage broking service. It conducts its business through the company’s mobile Franchisees and provides its customers with a share of the mortgage broker’s commission.Ormond has now expanded into other services including Refund Financial Planning, Refund Real Estate
Refund Real Estate
Founder and Executive Chairman Wayne Ormond launched Refund Real Estate in July 2011. Refund Real Estate is an Australian Real Estate Agency that gives a cash refund to its buyers and sellers...
, Refund Property Investment and Refund Finance & Leasing.
As at October 2011, Refund Home Loans has announced that the business is going into administration.
Foreclosure Fighting Fund
The idea for Wayne Ormond's charity, The Foreclosure Fighting Fund, came from his involvement with Channel 7's Today TonightToday Tonight
Today Tonight is a controversial Australian News and Current Affairs program, produced by the Seven Network and shown weeknightly at in direct competition with rival Nine Network program A Current Affair....
series which showed cases of the difficulties and heartbreak faced by families threatened with losing their homes due to repossession by banks and lenders. Wayne demonstrated that these could in many cases be resolved with experienced advice. The Foreclosure Fighting Fund which will be officially launched with Today Tonight and will become a program implemented by Refund Home Loans to stop families from losing their homes. Wayne is stepping in to help families fight foreclosure.
Contravention of Trade Practices Act
On the 12th March 2010, the Federal Court made orders by consent declaring that Refund Home Loans Pty Ltd and its founder and managing director, Wayne Rodney Ormond, have contravened the Trade Practices Act 1974.Refund Home Loans and Mr Ormond admitted that they had made misleading statements to franchisees that they had been given approval by the Australian Competition and Consumer Commission in relation to Refund Home Loans' treatment of franchisees.
The ACCC instituted proceedings in October 2009 after receiving a number of complaints in relation to representations made by Mr Ormond. Refund Home Loans and Mr Ormond admitted that statements such as:
"Now I've spoken to the ACCC. I've done everything in accordance with the law" and
"Mate, I've had meetings with Graeme Samuel himself. I have nothing to worry about."
were false and misleading and deceptive and in contravention of sections 52, 53(c) and 53(d) of the Act.
In addition to declarations, by consent the court ordered: injunctions restraining Refund Home Loans and Mr Ormond from making such representations in the future, corrective statements to all current and some former franchisees, and
the implementation of a trade practice law compliance program, including training for Mr Ormond.
External links
- http://www.refundhomeloans.com.au/