Quality vs Volume
For some time the MFAA National Brokers Committee has been concerned about the move by some lenders into using ‘quantity’ or ‘volume’ as a means of deciding broker accreditation. MFAA strongly endorses the need for high quality on loan submissions but believes using ‘volume’ as a surrogate for ‘quality’ is inappropriate. The MFAA National Brokers Committee has been discussing a proposal based around quality with both the Lenders Committee and with lenders individually. However while there is some support from individual lenders it is not general support and the MFAA National Brokers Committee has decided to publish the attached proposal (which has been revised based on some lender comments) as a means of encouraging more individual lenders to add their support and also to publicly inform members and the industry in general on progress.
To read the proposal click here.
To give feedback to MFAA on this proposal click here.
Phil Naylor
MFAA CEO
