M&FB Online: 28 May 2008
Highlights from the MFAA National Convention
Cert IV course completion now mandatory
MFAA Discount on Cert IV course
Notification of Change to Licence Details
MFAA revised Consumer Brochures available
Calling all experienced brokers
Highlights from the MFAA National Convention
Take three days of energy, excitement and education, mix it with more than 1500 passionate and motivated professionals, 40 top international and Australian speakers and you have MFAA 08 Differentiate National Convention. It was the professional development and networking event of the year and you can relive the highs, or see what you missed, by logging onto www.mfaaconvention.com.au to watch the official highlights video.
To view and purchase professional photos from all three days, social functions and the BankWest Gala Dinner simply visit www.davidisrael.com.au. Click on Client Login in the top right hand corner of the landing page and then select Gallery. Happy viewing!
Cert IV course completion now mandatory
The current consensus, after discussion with regulators, indicates that Certificate IV in Financial Services (Finance and Mortgage Broking) will become the minimum education entry standard under the proposed Finance Broker Regulation.
In anticipation of this proposed legislative requirement, the MFAA Board has determined that from 1 July 2008 those seeking MFAA AMC status, regardless of experience, will need to have successfully completed Certificate IV in Financial Services (Finance and Mortgage Broking) as one of the minimum membership entry requirements.
Existing AMCs and CMCs (as at 1 July 2008) will have until 1 July 2009 to comply. Certificate IV status can also be achieved by obtaining Recognition of Prior Learning (RPL) (based on experience) through a registered training organisation. Further RPL details in the next edtion of M&FB Online (Tuesday 10 June).
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MFAA Discount on Cert IV course
To support existing members in this endeavour, MFAA has taken $100 off the price of the online MFAA Certificate IV in Financial Services (Finance and Mortgage Broking), course 101. The online course is designed to be completed at your own pace over a maximum of 18 weeks.
Notification of Change to Licence Details
Recently the MFAA received a notice from DOCEP for WA Licensed Finance Brokers, which obviously includes MFAA members who also have offices outside WA state borders.
So for all of those members who conduct business with WA borrowers and others this information is important.
The notice from DOCEP in effect requests all Licensees to ensure that they notify DOCEP of a change of particulars within 1 month of the change occurring. ,NB: there are also some requirements to notify changes within 14 days (see below).
These changes include any change being made to thedirectors, partners, person in bona fide control or other persons concerned in the managementor control of the licensee. Should this happen to those Licensees, where that is a condition on their licence, the person in bona fide control of that Licensee must advise the Commissioner:
1.of the change(s), and
2.provide current business references, original national police check certificates and credit reports for each person(s) where newly appointed.
Among the changes to be notified to DOCEP - all within 14 days - are:
1.commencing or ceasing to carry on business,
2.ceasing to have a registered office,
3.change of residential address, and
4.a change of business name.
As well you must notify DOCEP of changes which include the location of new a branch office(s), before business commences, a change in a Director of the body corporate that is the Licensee, a change to partners, a change in the principal place of business, and or a change to the person in bona fide control.
Of course there are fines involved for failure to notify.
If you have any queries you should contact the Licensing Department at DOCEP on 08 9282 0835 or fvi@docep.wa.gov.au
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MFAA revised Consumer Brochures available
Could you be doing more to promote YOU to your clients? If you answered yes, jump online and order the new MFAA consumer brochure, titled The Essentials of Borrowing to hand out to current and potential clients. The brochure ties in with the MFAA 2008 Consumer Essentials Campaign (which includes print, radio, online, outdoor and bus advertising) promoting the key message to consumers - when you are looking for a loan you need the guidance of a professional you can trust, you need a MFAA member.
This brochure explains MFAAs accreditation criteria on education, experience and ethics so consumers understand the value and have confidence in working with someone who has the knowledge, integrity to help them find an appropriate loan.View and order the brochure now on the MFAA Member Centre>Business Resources >Marketing Toolkit
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Calling all experienced brokers
Are you one of the 1000 MFAA members with 10 or more years experience in the mortgage and finance industry? MFAA is calling for interested members in this category who are able to help us create practical, relevant and timely professional development offerings for other mortgage and finance industry professionals. To indicate your willingness to be involved or to find out more please email Kerry McGregor, Head of Marketing and Communications.
Did you know?
In the latest MFAA/BankWest Home Finance Survey, 72.3% of consumers agreed that it is important to discover whether a broker is a member of MFAA before using them to arrange a loan. So make sure you display the appropriate MFAA logo on your stationery and business cards.
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MFAA Member Benefits: home emergency repairs
What would you do if you had an emergency at home such as a burst water pipe, a blocked toilet, a blocked water tank or simply being locked out of the house? Well you won''''''''''''''''''''''''''''''''t have to worry if you are a member of HomeSource Home Assist. ,The Annual membership fee for members is only $110 (normally $125).
Click for more information and to sign up or call Home Assist on 1300 733 420 and quote Member Benefits.
