A former financial services provider has been pleaded guilty for his role in a multi-million dollar home-loan fraud conspiracy.

Mr Aizaz Hassan, 34, of Victoria, pleaded guilty to one charge of conspiring to defraud financial institutions this week, following an ASIC investigation into Footscray-based finance broking company, Myra Home Loan Pty Ltd, trading as Myra Financial Services (no longer trading).

He was charged for issue relating to the creation and use of false documents to support loan applications valued at approximately $110 million.

He is now on bail, awaiting prosecution by the Commonwealth Director of Public Prosecutions.

Mr Hassan's guilty plea relates to conspiring with others, including Mr Najam Shah, to defraud financial institutions through the provision of false documents in support of loan applications submitted on behalf of Myra clients between about March 2008 and August 2010.

Mr Shah was also arrested in January 2015 and charged with conspiracy to defraud financial institutions.