Western Australian Registrar and Commissioner of title joint practice: verification of identity - M&FB online, 11 April 2013
Members, please be aware that it has been brought to the MFAA's attention by Landgate staff that Landgate may have been suggesting to property professionals that they accept an Australia Post receipt as evidence that a self-represented party...
Diploma/Fast Track update - M&FB online, 3 April 2013
Thanks to all members who have now successfully completed the Diploma/Fast Track requirements. This now sets a line in the sand in establishing that, as a minimum, MFAA Credit Advisers™ and MFAA Associate Credit Advisers™ have higher educational...
MFAA sets clear pathway to talent acquisition and awareness building - M&FB online, 3 April 2013
As part of the MFAA's plans for 2013, the association has developed key strategies and initiatives to attract and retain talent through it's professional development initiatives. Specifically, these initiatives have been developed to educate and raise awareness among...
MFAA responds to shoddy News Ltd stories - M&FB online, 27 March 2013
The Mortgage & Finance Association of Australia today responded to reports by News Ltd following the MFAA's termination of 1,100 broker members, who have failed to meet the educational standard (Diploma in Financial Services (Finance/Mortgage Broking Management or...
MFAA enforces Diploma requirement - M&FB online, 27 March 2013
As foreshadowed, the MFAA has cancelled the memberships of some 1100 members who have failed to satisfy the membership requirement of holding Diploma or Fast Track status, as notified by the MFAA Board in 2009. This is...
Government acts against unauthorised property spruikers and 'advisers' - M&FB online, 27 March 2013
The government has introduced legislation to prohibit the use of the words 'financial advice', 'financial adviser', 'financial planner', and the like, by those who do not hold an AFS Licence or an authorisation under an AFSL. The ability...
ASIC releases its review of licensed credit assistance providers' monitoring and supervision of credit representatives - M&FB online, 13 March 2013
On 13 March ASIC released its review of licensed credit assistance providers' monitoring and supervision of credit representatives. In its comments to the MFAA ASIC said: "Although we found that licensees implemented various monitoring and supervision processes...
MFAA 2013 National Convention keynote speaker: John Peters - M&FB online, 13 March 2013
"You will always make mistakes, you are human, but you realise that your power rests in the speed in which you learn." This premise has catapulted John Peters into one of the nation's most successful inspirational speakers, and...
MFAA reverse mortgage requirements - M&FB online, 6 March 2013
MFAA Reverse Mortgage Requirements (Note: Addition made to article, published 9th March 2013) To assist members in this area, the MFAA are providing further clarification on the reverse mortgage requirement in addition to...
Phase 2 small business lending deferred - M&FB online, 20 February 2013
Phase 2 small business lending deferred - a positive for equipment and commercial finance members. The Government has just announced that reforms to small business lending will be deferred. The MFAA is pleased to have been part...
MFAA welcomes CBA comments on rates - M&FB online, 20 February 2013
In light of the recent reported comments by the Commonwealth Bank of Australia regarding future interest rate movements, the MFAA has urged borrowers to utilise the services of a mortgage broker to negotiate their rates down. CEO...
ASIC comments on credit variations - M&FB Online, 9 January 2013
The MFAA has sought information from ASIC about credit variations to clarify when responsible lending obligations are triggered. Increases to a credit contract trigger responsible lending obligations, but if a borrower wishes to vary the terms of a...
ASIC advises: update your business name details online - M&FB online, 20 December 2012
ASIC has announced the launch of new online services for business names customers. You can now update details for a business name using ASIC Connect. ASIC advises that most transactions take only a few minutes...
Review of small business lending complaints - M&FB Online, 12 December 2012
The MFAA has made a submission on ASIC's Consultation Paper CP 190 that relates to a review of small business complaints. The submission is available here . ASIC sought comments on how small business borrowing complaints...
ASIC provides guidance about the use of 'Independent' in a business name and elsewhere, 2 December 2012
The MFAA has been advised that ASIC's view is that from 1 March 2013, a broker will not be able to use the term "independent", or "independently owned" or any other similar terms in their company names or business...
Warning: Buy a Trail Pty Ltd and Mark Whittingham - M&FB online, 31 October 2012
Consumer Affairs Victoria (CAV) has issued a public warning about the business practices of Buy a Trail Pty Ltd and its director Mr Mark Whittingham. The notice states that CAV has received information that Mr...
Members warned about scams impersonating ASIC and ATO - M&FB Online, 17 October 2012
ASIC has today warned the public against acting upon on an email claiming to be from 'Barbara DuFrene', the purported Chairman of ASIC and the Australian Taxation Office (ATO). The email, which claims that recipients are entitled to...
Complete RFi's survey to receive the 2012 Consumer Trends Report - M&FB Online, 17 October 2012
RFi is a leading financial services research firm that conducts ongoing research of the Australian mortgage market and are currently conducting a review of brokers' attitudes to lenders. RFi would greatly appreciate your opinion. In return for...
Finance approval letters: beware - M&FB Online, 17 October 2012
The MFAA has been made aware that some brokers are being requested to provide evidence of finance approval to real estate agents to satisfy 'subject to finance' clauses and that in some cases this is being provided by...
Update on Privacy Amendment Bill - M&FB online, 3 October 2012
The House of Representatives Standing Committee on Social Policy and Legal Affairs conducted an inquiry into the Privacy Amendment (Enhancing Privacy Protection) Bill 2012 (the Bill) and tabled its report in Parliament on Monday 17 September. The...
ASIC seeks input from small businesses - M&FB online, 3 October 2012
The Australian Securities and Investments Commission (ASIC) is committed to helping small businesses understand their legal obligations. Small businesses account for 96% of all registered businesses and collectively employ half the Australian workforce. As a result, small...
ASIC review of early termination fees - M&FB online, 19 September 2012
Return to enewsletter . On 18 September 2012, ASIC released report 300 titled 'Review of Early Termination Fees for Residential Loans entered into before 1 July 2011'. From 1 July 2011, early termination fees have been...
MFAA launches spring consumer awareness campaign - M&FB online, 19 September 2012
The MFAA has launched a multi-media, national campaign to direct consumer traffic to the Essentials of Borrowing website where consumers can search for a mortgage or business broker and pick up valuable lending tips. The...
Changes to First Home Owners Grant (FHOG) - M&FB online, 19 September 2012
Return to enewsletter . QLD: From Wednesday 12 September 2012, the new First Home Owner Construction Grant (FHOGC) replaced the current First Home Owner Grant Scheme. The new grant is for first home buyers who...
New APESB-led standard for accountants - M&FB online, 19 September 2012
Return to enewsletter . APES 230 (issued by the Accounting Professional and Ethical Standards Board) is a proposal to introduce a standard for accountants which will apply to members of any accounting body or accounting firms...
ASIC campaign on unlicensed credit providers - M&FB Online, 5 September 2012
Return to enewsletter . ASIC has put credit providers on notice as it launches a surveillance campaign to weed out unlicensed operators. ASIC will conduct a surveillance campaign between September and December this year designed...
Caution over contract loan writers - M&FB online, 5 September 2012
Return to enewsletter . The MFAA advises members to exercise caution when engaging contract loan writers. This follows the case study of Combined Insurance Company of America Ltd, which resulted in Federal Court action. In...
Clarity on low doc loans scandal - M&FB online, 22 August 2012
Return to enewsletter . Assertions that borrowers were coerced into low doc loans by lenders and brokers during the GFC is now the subject of a Senate inquiry. These claims were brought to light by complaints...
Use post nominals, include diploma qualifications - M&FB online, 22 August 2012
Return to enewsletter . The MFAA Board recommends that members who wish to promote their diploma qualification include a post nominal on their business cards, emails, social media and other correspondence. Historically, university qualifications have...
Caught in the Privacy Act - M&FB online, 8 August 2012
On 1 November 2010 the Office of the Privacy Commissioner was integrated into the Office of the Australian Information Commissioner (OAIC). MFAA members should review their own internal procedures in regard to privacy complaints and ensure that they...
MFAA urges caution on trail books - M&FB online, 25 July 2012
Return to enewsletter Members are advised to take extreme care if they are considering the purchase of a trail book. The MFAA is aware that so-called 'trail books' and 'databases' are being offered for...
Reminder of new 'Part A' program obligations - M&FB online, 11 July 2012
Return to enewsletter We have been notified by AUSTRAC of a newly released Information Circular No. 81: 'Reminder of New Obligations for Part A of Anti-Money Laundering and Counter-Terrorism Financing Programs' to assist reporting entities...
Does NCCP really instruct you to discriminate on age? - M&FB Online 27 June 2012
Return to enewsletter Various industry participants have voiced concerns in the press over what they believe are unintended consequences of the National Consumer Credit Protection Act 2009 (the NCCP). The MFAA is aware of...
MFAA Lobbying and Diploma funding - the background - M&FB Online, 27 June 2012
Return to enewsletter There has been some misunderstanding as to the background to the MFAA's recent announcement regarding Diploma funding. The MFAA has been discussing for some 18 months how it could access funding...
Government funding update, M&FB Online, 13 June 2012
MFAA have received a number of enquiries relating to the distribution of fundingunder the National Workforce Development Fund (NWDF). By way of background information, MFAA have been working with Innovation & Business Skills Australia (IBSA) and the Federal...
ASIC launches national Business Names Register - M&FB Online 13 June 2012
Last week, ASIC launched the new national, online Business Names register, which it will oversight. The new national register has replaced the existing eight state and territory registers, simplifying business names registration in Australia by offering a single...
Brokers claim significant market share - M&FB Online, 16 May
Return to enewsletter Mortgage brokers have a 42% share of the mortgage market in Australia, the first detailed quantitative study of the sector has revealed. Based on new home lending figures compiled by the...
Business registration gets easier: ASIC - M&FB Online, 16 May 2012
Return to enewsletter In a boost for MFAA members doing business across state borders, the Australian Securities and Investments Commission (ASIC) is launching a new national business names registration service. Commencing on 28 May, ASIC's...
MFAA launches new elearning platform - M&FB Online, 16 May 2012
Return to enewsletter The MFAA has launched new elearning courseware, featuring over 120 courses. The program contains a wealth of new and essential professional development programs, including sector-specific courses such as equipment and commercial finance....
MFAA calls for legislation slowdown - M&FB Online, 2 May 2012
In the wake of new NCCP amendments released last week, MFAA CEO Phil Naylor has repeated calls for the Federal Government to put a hold on future legislation and "let the dust settle" on what has already been...
Members who publicise their IDR procedures - M&FB Online, 2 May 2012
Recently, the MFAA Tribunal heard a matter involving a member who had engaged in misconduct by failing to provide a copy of its Internal Dispute Resolution (IDR) policy to a borrower on request and also for failing to...
Diploma Completion Certificates can be accepted until 30 June - M&FB Online, 2 May 2012
You still have until 30 June 2012 to complete your diploma and provide the MFAA with your certificate of completion. If you have more than five-years' experience , the 'fast track' option may be a more attractive...
Inquiry into the post-GFC banking sector - M&FB Online, 5 April 2012
Return to enewsletter On 14 March 2012, the Senate referred the following matter to the Senate Economics References Committee for inquiry and report: An examination of recent developments in the banking sector arising out...
ASIC on comparison rate advertisements - M&FB Online, 5 April 2012
Return to enewsletter ASIC has been monitoring advertisements of financial products and services and has identified a number of instances of non-compliance with aspects of the mandatory comparison rate regime set out in Part 10...
MFAA protecting members' interests - M&FB Online, 21 March 2012
Return to enewsletter Over the past few weeks, the MFAA has lodged the following submissions to the Federal Government aimed at protecting members' interests. Limited Recourse Borrowings by SMSFs The MFAA has...
Consumer advertising in Canberra & Mandurah - M&FB Online, 21 March 2012
Return to enewsletter The MFAA is continuing to extend its advertising efforts in raising consumer awareness of MFAA Approved Brokers with a regional advertising campaign in Mandurah, WA and an additional placement in The Canberra...
The MFAA Facebook promotion gets people talking - M&FB Online, 21 march 2012
Return to enewsletter The MFAA Facebook promotion reached 1.1 million people in first week. It seems the message - asking people what luxuries they're missing out on while saving for a home loan - is resonating....
2011 MFAA Convention wins Meeting & Events Industry Award - M&FB Online, 21 March 2012
Return to enewsletter Last week, the 2011 MFAA National Convention was declared the NSW State Winner in the Association or Government Meeting of the Year category at the Meeting & Events Australia (MEA) Awards 2012....
Diploma completion certificates can be accepted until 30 June 2012 - M&FB Online, 21 March 2012
Return to enewsletter Members have until 30 June 2012 to complete their diploma and provide us with a certificate of completion. If you have more than five years' experience, the 'Fast Track' option may be a...
Free webinars for members - M&FB Online, 21 March 2012
Return to enewsletter The MFAA's free online webinars are a great way to hone your knowledge and skill in a wide range of areas at a time and place that suits you. Plus, you receive...
ACL applicants must now provide bankruptcy checks instead of credit checks - M&FB Online, 21 March 2012
Return to enewsletter ASIC's Regulatory Guide RG204 - Applying for and varying a credit licence has been amended. The updated guide states that most licence applicants will need to provide copies of a national...
New MFAA Facebook campaign to drive consumer awareness of MFAA Approved Brokers - M&FB Online, 7 March 2012
Research shows that homebuyers are prepared to make sacrifices in order to save for a home deposit. The most common tactics seem to be going out less, taking lunch to work or taking cheaper holidays. In light...
There's still time! You have until 30 June to complete your diploma - M&FB Online, 7 March 2012
We have been hard at work raising awareness of the new requirement for members to hold a diploma which meets MFAA criteria. However, please do not panic, you still have until 30 June 2012 to complete your diploma...
How does your current qualification translate to the diploma? - M&FB Online, 7 March 2012
The MFAA understands that many of our members hold various qualifications (obtained from universities, colleges etc) that are different to our minimum education standard. We have adopted the Diploma Financial Services (Finance/Mortgage Broking) FNS50504 / Diploma in...
Attention ACL holders: new disclosure requirements from 1 April 2012 - M&FB Online, 7 March 2012
Return to 21 March enewsletter The NCCP Act specifies that an ACL holder must show its licence number in full on prescribed documents from 1 April 2012. This is an important requirement...
Identification legislation amendments for NSW - M&FB Online, 7 March 2012
For MFAA members who produce or use forms that contain a NSW statutory declaration, please take note of documents that require updating (see below). Obviously, if you receive a NSW statutory declaration that doesn't show the new format,...
The 'six biggest lenders' - M&FB Online, 7 March 2012
Some of you may recall that last year we suggested Treasury may amend the regulation concerning the naming of the panel of lenders. That hasn't happened yet for a variety of reasons, so, in the meantime, we...
Business names - changes to come - M&FB Online, 7 March 2012
A new national business name registration service is set to commence in the middle of this year and is to be administered by ASIC. For most of our members who use business names all this really means...
Member engagement survey: What the MFAA is going to do differently - M&FB Online, 22 February 2012
In October last year, the MFAA partnered with independent research agency Blue Orb to conduct a member engagement survey. Every member was given the opportunity to participate, and the demographics of the respondents were representative of all members....
SPAM warning - M&FB Online, 22 February 2012
The MFAA advises that a SPAM attack may be in effect against some brokers. Members advise that they have received emails from a 'Do Not Reply' address with subject line: Reminder: Your MFAA Membership has EXPIRED! or...
Attention ACL holders: new disclosure requirements start on 1 April - M&FB Online, 22 February 2012
The NCCP Act specifies that an ACL holder must show its licence number in full on prescribed documents from 1 April 2012. This is an important requirement because a breach can incur a substantial civil...
Diploma requirements for new mentored members - M&FB Online, 22 February 2012
New members with less than two years' broking experience will have up to 12 months from their date of joining the MFAA to complete the diploma requirement. However, such an individual must be mentored by an ...
How does your current qualification translate to the diploma? - M&FB Online, Wednesday, 8 February 2012
The MFAA understands that many of our members hold various qualifications (obtained from universities, colleges etc) which are different to our minimum education standard. We have adopted the Diploma Financial Services (Finance/Mortgage Broking) FNS50504 / Diploma in...
Government cautions small business on cyber crime - M&FB Online, 8 February 2012
The Federal Government has warned small businesses and consumers to protect themselves against cyber crime. The Government yesterday released a report from the Australian Institute of Criminology, which identifies the most common cyber threats facing small business...
New laws to improve business tax arrangements - M&FB Online, Wednesday 8 February 2012
The House of Representatives Economics Committee has recommended new tax laws aimed at improving business tax rules around capital gains tax, hire purchase arrangements, financial supplies and GST for new residential premises. Committee chair Julie Owens said...
MFAA's 'Approved Broker' campaign driving online broker searches- M&FB Online, 25 January 2012
The MFAA launched a revised version of the 'Approved Broker' advertising campaign in November last year, with the main aim of raising awareness of the advantages of using an MFAA-approved broker by homebuyers and those seeking business finance. ...
Diploma deadline approaches - M&FB Online, 25 January 2012
As the 30 June deadline draws closer, the MFAA will soon be contacting broker members who are yet to provide evidence of their completed diploma. Members holding MFAA AMC, AFC or CMC status, or ACA status where...
For members who employ staff: award update - M&FB Online, 25 January 2012
Members are reminded to ensure that, if they have employees, they are using the current version of the Banking, Finance and Insurance Award. A copy of the Award, last amended on 19 September 2011, can be found ...
Changes to Australian Consumer Law re Unconscionable Conduct - M&FB Online, 11 January 2012
On 1 January 2012, changes to the Australian Consumer Law (ACL) and the A SIC Act commenced. These changes introduced a statement of interpretative principles to assist courts when they apply the statutory prohibition of unconscionable conduct....
MFAA clarifies CPD hours for diploma and other qualifications - M&FB Online, 11 January 2012
Obtaining the Cert IV FNS40804 and FNS40811 is now worth 16 CPD hours Obtaining the FULL Diploma FNS50504 is now worth 26 CPD hours Obtaining the ...
ASIC and MFAA agree on director's permanent ban - M&FB Online, 11 January 2012
The MFAA is committed to expelling the rogues in the industry, so it is gratifying to note that ASIC sees things the same way. On 19 December last year, ASIC cancelled the credit licence of Melbourne-based Star...
Become more involved with the MFAA in 2012 - M&FB Online, 11 January 2012
The MFAA is inviting members to attend or participate in our state committee meetings. The dates and locations for each are listed below. MFAA State Committees The MFAA has a series of broker committees that...
Personal Property Security Register start date announced - M&FB Online, 14 December 2011
On 13 December, the Attorney-General's Department announced that the PPS regime will actually commence on 30 January 2012. Although we have anticipated an imminent start date for some time, there was no certainty that the date everyone was...
Clarifying the Credit Adviser requirements - M&FB Online, 14 December 2011
In recent days, some members have requested the MFAA explain what is required to transition to the new accreditation: 'MFAA Credit Adviser'. In order to hold the MFAA Credit Adviser accreditation a member must successfully complete: ...
Preferred vendors clarify diploma transition dates - M&FB Online, 30 November 2011
The MFAA's panel of preferred Registered Training Organisations has clarified when they each switched to the new version of the Diploma of Finance and Mortgage Broking Management FNS50311/FNS50310. The diploma (including the embedded case studies) is one of...
MFAA appoints two more preferred vendors - M&FB Online, 30 November 2011
The MFAA's panel of preferred education vendors has grown from six to eight with the addition of FARSTA and IFS. Finance & Related Services Training Academy (FARSTA) Chris Todman (07) 3368 2719 www.farsta.com.au Institute of...
Is your aggregator asking for a copy of your CPD record? - M&FB Online, 30 November 2011
Members with a Continuing Professional Development (CPD) requirement are reminded they can access the MFAA member portal at any time to print a PDF version of their current CPD record. To access your CPD record: ...
Brokers favoured by first-time homebuyers - M&FB Online, 17 November 2011
First-time homebuyers are increasingly showing a preference for using brokers, the Commonwealth Bank/Mortgage & Finance Association of Australia Home Finance Index for September has revealed. The index found first-time homebuyers' preferences for using brokers had increased to...
MFAA 2012 National Convention ticketing offer - M&FB Online, 17 November 2011
The future will unfold at the MFAA 2012 National Convention from 23-25 May at the Adelaide Convention Centre. The MFAA has announced a limited pre-release of tickets valued at $840 for MFAA loan writer members only. Tickets...
Mortgage & Finance Brief recognised at awards - M&FB Online, 17 November 2011
Mortgage & Finance Brief has been named runner up in the Re-launch of the Year category at this year's Publishers Australia Excellence Awards. The winners were announced at a gala dinner ceremony in Sydney's Doltone...
Celebrate Christmas with the MFAA - M&FB Online, 17 November 2011
You could be cuddling up to a panda, enjoying dinner on a cruise, or watching artwork in the making at this year's MFAA Christmas parties, depending on your location. Click on the links below to find out...
Reminder about certifying documents under AML/CTF - M&FB Online, 17 November 2011
As many of you would be aware, brokers have been able to certify documents for identification purposes under the Anti-Money Laundering and Counter-Terrorism Financing Act ( AML/CTF Act ) for some time. As a reminder: brokers...
Support for broker traineeships in Western Australia - M&FB Online, 17 November 2011
The MFAA is now supporting the Financial, Administrative and Professional Services Training Council of WA to establish traineeships for finance and mortgage brokers in WA. The Council is currently making a submission to the State Training Board...
Member benefits: discount accommodation through Departure Lounge - M&FB Online, 17 November 2011
Throughout November, Departure Lounge is offering MFAA members discounts of up to 54% when you stay at one of their spacious Peppers, Mantra or BreakFree properties. Click here to view the current special offers, booking...
Use an MFAA-approved broker in wake of greater competition - M&FB Online 2 November
The RBA's decision to cut the official interest rate to 4.5% - as well as three of the major banks passing it on in full - has set the stage for a more competitive mortgage market over the...
Changes to AML/CTF enrolment requirements - M&FB Online 2 November 2011
As of 1 November 2011, all businesses that provide a designated service under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 ( AML/CTF Act ) must enrol with AUSTRAC by 28 November 2011. Brokers are rarely...
MFAA member benefits: business card offer - M&FB Online 2 November 2011
For a limited time only, Your Brand Unleashed is offering MFAA members a package of 1000 business cards for only $125 including GST. The cards come in a full-colour front and black and white reverse style on matt...
MFAA appoints Corinna Dieters as independent director - M&FB Online 20 October 2011
The MFAA has appointed Corinna Dieters to take on the newly created independent director position on the National Board. Dieters, currently a Director of Seaview Consulting and Chair of the Financial Planning Standards Board, will take up...
Industrial Relations: Banking, Finance and Insurance Industry Award - M&FB Online 20 October 2011
Members are reminded that the Banking, Finance and Insurance Industry Award which came into force in January 2010, has coverage of employees in the mortgage and finance sector, including broker employees. The full coverage of the Award...
Change to requirement for display of licence details - M&FB Online 5 October 2011
Members have been asking us how they should display their licence number on documents under the NCCP. Previously, we suggested the "ACL" abbreviation would suffice, based on the fact that an equivalent use of the "AFSL" abbreviation...
What do the new financial services training qualifications mean for you? - M&FB Online 5 October 2011
Innovation and Business Skills Australia (IBSA) has released the FNS10 financial services training package, which changes the existing FNS04 Cert IV and FNS04 Diploma qualifications to the new FNS10 Cert IV in Finance and Mortgage Broking and FNS10...
NCCP amendments put focus on advertising standards - M&FB Online 5 October 2011
The MFAA says proposed amendments to the National Consumer Credit Protection Act 2009 should serve as a reminder to all brokers to ensure their advertising is within regulations. The Amendments were presented to Federal Parliament...
Trade prices available on Harvey Norman products - M&FB Online 5 October 2011
Harvey Norman Commercial Projects Division is offering MFAA members exclusive access to trade pricing* on its vast range of whitegoods, audio-visual equipment, kitchen and home appliances. These savings are significant when compared to retail prices,...
Brokers must be mindful of ASIC crackdowns: Naylor - M&FB Online 7 September 2011
The recent announcements from ASIC send a clear message - and warning - to brokers that the regulator will be taking on a much more active enforcement role, MFAA CEO Phil Naylor says. In recent weeks,...
ASIC enforces RG 220 exit fee rules - M&FB Online 7 September 2011
ASIC has indicated it will be closely monitoring exit fees on loans transacted before 1 July 2011 and act on any exit fees that exceed the reasonable costs of establishing the loan. The MFAA is aware that...
MFAA CEO reminds members about diploma requirements - M&FB Online 7 September 2011
MFAA CEO Phil Naylor has urged members to ensure that they complete their diploma on time to satisfy membership requirements. Members holding MFAA AMC, AFC or CMC status must provide evidence that they have completed a 'diploma meeting...
The MFAA supports ASIC's mortgage stress campaign - M&FB Online 7 September 2011
ASIC has approached the MFAA seeking our assistance in promoting its Mortgage Stress Education Campaign. The objectives of the campaign are to: assist consumers who experience mortgage stress; empower consumers so that they can take...
MFAA to monitor FoFA developments - M&FB Online 7 September 2011
MFAA CEO Phil Naylor says the association will monitor developments around the Future of Financial Advice (FoFA) legislation to endeavour to ensure the interests of brokers are protected. The Federal Government released the draft FoFA legislation last...
New broker underlines the importance of mentors - M&FB Online 7 September 2011
Industry newcomer Shayne Betreen has been a broker with Gain Financial Solutions for 12 months. Based in the Southern Highlands region of NSW, he covers an area from the state's south coast to Sydney's north shore. He shares...
Updates to MFAA compliance tools - M&FB Online 7 September 2011
Click here for the latest 'Legislation - summary of key provisions' document, and to access the new NCCP disclosure module for mortgage managers. The full version of the disclosure module has also changed, ...
MFAA board elects president-elect - M&FB Online 24 August 2011
The MFAA board has elected Steve Kane, currently MFAA vice president and chair of the MFAA National Brokers Committee, as president-elect. As per the MFAA constitution, he will serve as president-elect until he officially steps into the...
Bankwest chief economist Allan Langford on the property market - M&FB Online 24 August 2011
Bankwest chief economist Allan Langford will speak at the MFAA WA State Council Economic and Property Update next month. He previews some of the topics he will discuss. What do you plan to discuss? ...
ASIC raids suspected loan sharking operation - M&FB Online 24 August 2011
Government officials have raided two properties in Cairns as part of an investigation into an alleged loan shark operation at Yarrabah. Some residents of the town have allegedly been offered short-term loans at an annual interest...
ASIC warns businesses about misuse of its logo and name - M&FB Online 24 August 2011
ASIC has warned businesses not to use its name or logo when promoting their business or the fact that they hold a credit licence. The warning is targeted at all holders of an Australian credit licence, who...
Great Father's Day gift ideas - M&FB Online 24 August 2011
What type of dad is yours? Is he happier at home, does he prefer being behind the wheel, or does he spend his weekends fishing? Father's Day falls on Sunday 4 September, so why not surprise your...
The MFAA announces dates for state committee meetings - M&FB Online 10 August 2011
The MFAA is inviting members to attend or participate in our state committee meetings. The dates and locations for each are listed below. MFAA State Committees The MFAA has a series of broker committees which...
Disclosure documents deadline pushed back to October - M&FB Online 10 August 2011
Most of you will recall the requirement for non-ADI lenders to provide disclosure documents to clients was due to come into effect on 1 August, after a number of previous postponements. However, because the regulations weren't finalised...
Limited spots for Brisbane and Perth WIMBN roadshow events - M&FB Online 10 August 2011
After an overwhelming response, the Sydney, Adelaide and Melbourne legs of the upcoming WIMBN roashow featuring Wendy Higgins have sold out. However, spaces for the Perth and Brisbane events are still available. So, if you think you...
The MFAA diploma requirements updated with new criteria - M&FB Online 10 August 2011
Members holding MFAA AMC, AFC or CMC status, and ACA status with a Certificate IV qualification, are reminded that they are required to provide evidence of a completed 'Diploma meeting MFAA criteria' by 30 June 2012. This initiative,...
ASIC credit licence renewal guidance available online - M&FB Online 10 August 2011
If you are a licensee, ASIC requires you to lodge an annual compliance certificate and pay a fee for each year that you hold a credit licence. There are substantial criminal and civil penalties if you fail to...
Great Queensland holiday deals for MFAA members - M&FB Online 10 August 2011
Why not take advantage of the perfect Queensland weather at a luxurious Peppers or Mantra Resort? Members can save of up to 50% on accommodation. Click here to view the current special offers, booking details,...
Decision on NCCP disclosure documents expected soon - M&FB Online 27 July 2011
At the time of writing, Federal Treasury had not yet officially announced the required content for disclosure documents such as credit guides, credit quotes and credit proposals for brokers. However, the Executive Council is due to meet today,...
Be mindful of out-dated compliance documents - M&FB Online 27 July 2011
Members are urged to be mindful that any compliance documents they find on the MFAA website using the search function may not be the latest version. The MFAA keeps older versions of all documents on the...
Less than a year to go until the diploma deadline - M&FB Online 2011
Members holding MFAA AMC, AFC or CMC status, and those with ACA status who only hold Certificate IV qualification, are reminded that they are required to provide evidence of a completed 'Diploma meeting MFAA criteria' by 30 June 2012....
ASIC suspends broker's credit registration - M&FB Online 27 July 2011
ASIC has suspended the credit registration of Sydney finance broker Dark Blue Fire for failing to have an external dispute resolution scheme. Late last year, Dark Blue Fire, which is not a MFAA member, ceased to be...
The MFAA provides advice on the ATO's split loans stance - M&FB Online 27 July 2011
Members may have seen some articles in the media recently indicating the ATO may be cracking down on split loans after changes to the relevant laws. The MFAA's legal advice is that nothing is changing. The ATO considers...
The MFAA appoints Member Liaison for Queensland - M&FB Online 27 July 2011
The MFAA is pleased to announce the appointment of Kristina Spencer as Member Liaison for Queensland. Kristina brings a wealth of industry experience to this role, having previously worked for experience at Choice, Liberty Financial, Australian Financial...
Become a Virgin Blue Lounge member - M&FB Online 27 July 2011
Virgin Blue is pleased to offer MFAA members a 12-month membership to Virgin Blue Lounge for only $319 (plus a $49 joining fee). This is a first year saving of $200. Lounge membership entitles you to a...
Consumers value industry bodies: MFAA/Bankwest survey - M&FB Online 13 July 2011
Around 83% of respondents think it's important to find out if a mortgage broker is a member of an industry body before using them to arrange a loan, the latest Bankwest/MFAA Home Finance Index (HFI) has found. ...
NCCP: changes to handling of credit cards and home loans - M&FB Online 13 July 2011
On 5 July 2011, the National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Bill passed in federal Parliament, which makes some changes to handling of credit cards and home loans. These are: ...
ASIC bans fraudulent broker - M&FB Online 13 July 2011
On 5 July 2011, ASIC permanently banned a Victorian finance broker, Kirsty Ann Lake of Kew East, from engaging in credit activities following a conviction for serious fraud offences. Lake, who is not an MFAA member, was...
NZ Mortgage Brokers Association's 2011 Annual Conference - M&FB Online 13 July 2011
Darren Pratley, the Chairman of the NZMBA, warmly extends an invitation to MFAA members who would like to join their New Zealand colleagues at the Annual NZMBA Conference, in Takapuna, Auckland on 4-5 August 2011. There is...
Need to revive your wardrobe? - M&FB Online 13 July 2011
Fletcher Jones can provide MFAA members with a wide range of business and casual clothing in classic or contemporary designs, keeping you up to date with current trends and the latest fashions. The company is pleased to...
M&FB Online 29 June 2011
MFAA continues push for greater lending competition ASIC warning for licensees Last chance to save $100 on Fast Track Disclosure documents update ASIC slaps...
M&FB Online 15 June 2011
MFAA exit fee campaign strikes a chord Have you started your diploma yet? Save $100 on Fast Track before 30 June 2011 Looking for ways to identify...
National Convention review - 9 June
MFAA appeals to Senate and Swan on exit fees Social media is vital, says Futures Panel 2011 Convention 'huge success' - Phil Naylor Caspar Berry on risk taking...
M&FB live from the National Convention - 3 June
Striving for success - John McGrath style 'Human lie detector' on how to spot deception Revealed: the five secrets of successful people Pirates spotted at Gala Dinn-aargh...
M&FB live from the National Convention - 2 June
Tomorrow's Broker needs to be lifelong adviser Phil Naylor identifies holy grail for brokers Banks must embrace technology - Brett King Day one closes in style ...
M&FB live from the National Convention - 1 June
2011 National Convention opens for business Opening day speaker preview What’s on at the MFAA stand Welcome Reception Phil Naylor interview ...
M&FB Online 25 May 2011
Visit the MFAA Convention Stand MFAA Stand program Win great social media prizes MFAA goes social Become tomorrow's...
M&FB Online 18 May 2011
Bringing the comedy to Convention Exit fees discussion NCCP disclosure regulations update New consumer brochure now available Tips to help you navigate MFAA...
M&FB Online 20 April 2011
Managing change Important: Deadline for MFAA members with AMC, AFC or CMC status Sydney broker enjoys Facebook success The power of influence Unsolicited sales...
M&FB Online 7 April 2011
MFAA calls for DEFs to be exempted from Swan reforms Broker fees - pros and cons 'Elder discrimination' clarification Hardship cases spiral due to natural disasters ...
M&FB Online 23 March 2011
Disclosure Documents Moratorium Updates to the MFAA Code of Practice and referrer exemption guidelines Big names set for controversial broker fee debate Your CPD questions answered ...
M&FB Online 9 March 2011
MFAA awards excellence Investor activity on the rise, especially among Gen Ys MFAA advice: credit policy and assessment by intermediaries MFAA National Convention speakers revealed ...
M&FB Online 24 February 2011
'Exit fee ban will stifle competition': MFAA Tell the Government you oppose its Banking Reforms MFAA seeks extension to NCCP disclosure deadline ASIC revises guidelines for dispute resolution...
M&FB Online 9 February 2011
NCCP does not mean "elder discrimination" - MFAA Want to save money and progress your career? MFAA on TV Special General Meeting ...
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M&FB Online 25 January 2011
Broker fee guidance Trading by NCCP registrants/licence applicants: clarification MFAA supporting the Queensland flood appeal Vote now for Lender of the Year ...
M&FB Online 12 January 2011
COSL warns of flood hardship Rental history considered part of genuine savings Advance Notice: MFAA Special General Meeting • 10 February 2011 MFAA’s preferred...
M&FB Online 16 December 2010
Exit fee ban fails to tackle competition issues - MFAA Victory for MFAA as January deadline extended ASIC urges brokers to submit licence applications Hardship cases rack...
M&FB Online 1 December 2010
MUST READ: MFAA makes Senate inquiry submission Customer fury at rate rises Strong job growth predicted for mortgage broking MUST READ: MFAA ExpoMart Open for Bookings ...
M&FB Online 17 November 2010
MUST READ: Non-banks eyeing bigger slice of market MFAA urges adoption of Canadian borrowing model MUST READ: ASIC Ruling on Exit Fees and DEFs a victory for common sense and...
M&FB Online: 3rd November 2010
MUST READ: RBA increases cash rate by 25 basis points Senate inquiry into competition in banking sector Growth in house prices slows MUST READ: ...
M&FB Online: 5th October 2010
ASIC updates Nominations closing for 2011 MFAA Excellence Awards on 15 October NSW Commercial Lending Breakfast - 13 October 2010 Canadian Mortgage Forum 2010 ...
M&FB Online: 21st September 2010
Legal & Compliance updates Latest Bankwest/MFAA Index results 2010 MFAA elections New webcast now online: 'Fraud, the NCCP & You' Canadian Mortgage Forum 2010 ...
M&FB Online: 7th September 2010
NCCP updates MFAA State Council elections Canadian Mortgage Forum 2010 Member benefits: Intrepid Travel discount New...
M&FB Online: 20th August 2010
Legal & Compliance: Update to 'Quick Guide' Section Online New Webcasts Section Online MFAA Consumer Campaign: Update WIMBN Roadshow ...
M&FB Online: 8th July 2010
Legal & Compliance: NCCP Toolkit and more... MFAA Consumer Campaign: Update Canadian Mortgage Forum 2010 - November 21-23, Montreal, Canada ...
M&FB Online: 23rd June 2010
What's news this fortnight? Quick Guide: Unsuitable loan assessment guidance NCCP Regime for Trustees and other Special Purpose Vehicles MFAA and...
M&FB Online: 8th June 2010
What's new this fortnight? MFAA in the Media MFAA Legal & Compliance Update MFAA 2010 Consumer Campaign - How to use your kit...
M&FB Online: 28th May 2010
Melbourne MFAA National Convention Outstanding Success Treasury acknowledges MFAA argument on licence fees Statement re Conflicts of Interest MFAA Approved...
M&FB Online: 11th May 2010
What's new this fortnight? NCCP Conflict of interest and Lender requirements ASIC Decides on IDR processes for micro sized businesses National Business Names Registration ...
M&FB Online: 27th April 2010
ASIC Regulatory Guides - Find out what you need to know to comply Gadens Lawyers have provided the following summaries to help you make sense of your obligations under the NCCP Act: RG206...
M&FB Online: 24 March 2010
What you need to know this fortnight Regulation Updates ACL Criminal History Check - Federal Police Appointment of Credit Representatives under the NCCP...
M&FB Online: 2 March 2010
Conflicts of interest – MFAA submission to ASIC WEBINAR : MFAA National Regulation & Strategic Review Roadshow How to get registered under NCCP ACT...
M&FB Online: 20 January 2010
Professional Credit Adviser ™ Update Make Your Mark- Tell Us Who's Your Top Lender Webinar- Appointment to Application - Winning the Sales Process ...
MFAA Economic Review: December 2009
MFAA Economic Review: December 2009
M&FB Online: 15 December 2009
Professional Credit Adviser™ and Diploma MFAA Excellence Awards Reminder Webinar: Appointment to Application - Winning the Sales Process ExpoMart Open...
M&FB Online: 4 December 2009
MFAA Strategic Review ASIC Credit Reform Update Draft Regulations for Member Comment Broker Fees- MFAA's Position ...
MFAA Economic Review: November 2009
MFAA Economic Review: November 2009
M&FB Online: 11 November 2009
Notice of Annual General Meeting National Consumer Credit protection Act passed! Webinar – 'Economy, Interest Rates. What Next!’ MFAA Elections voting closes Friday 2010 MFAA Excellence...
M&FB Online: 20 October 2009
Free webinar - 29 October 2009 MFAA Elections Cert IV: Last chance! Member Benefits Free...
MFAA Economic Review - Sept 2009
MFAA Economic Review - Sept 2009
M&FB Online: 15 September 2009
MFAA Enforces Cert IV Requirement MFAA State Councils Elections - 25 Sept Updated Comparison Rate Practice Module Proposed Reform of Personal Bankruptcy Laws Commercial Litigation and Dispute Resolution...
M&FB Online: 25 August 2009
Timetable changes to National Consumer Credit Protection Reform Package National Consumer Credit Regulation MFAA Strategic Review – Member Survey Recently expelled...
MFAA Economic Review - August 2009
MFAA Economic Review - August 2009
M&FB Online: 4 August 2009
MFAA focuses on professionalism Proposed National Consumer Credit Protection Bill update Joe Sirianni - MFAA President-elect US Mortgage Bankers Association Convention...
MFAA Economic Review July 2009
MFAA Economic Review July 2009
M&FB Online 15 July 2009
MFAA strategic review National Consumer Credit Protection Bill Promote you - promote your MFAA membership First Home Owners Boost -...
M&FB Online: 30 June 2009
National Consumer Credit Protection Bill introduced into Federal Parliament MFAA – bringing better service to you Helping small businesses to stay on top of tax debt...
M&FB Online: 17 June 2009
New FBC requirements Victorian credit providers- what you need to know Get online and build your network today Share in...
M&FB Online: 14 May 2009
What’s affecting your business? MFAA Committees discuss the issues Westpac responds to industry roundtable Calling all finance brokers – your committee needs you ...
MFAA Economic Review April 2009
MFAA Economic Review April 2009
M&FB Online: 21 April 2009
Articles in this issue: Regulation Update Business communications: Free tools for brokers on PropertyTV Education: Earn CPD points online for free ...
M&FB Online: 7 April 2009
Friday’s MFAA Board meeting key issues WA Member Forum – a success The early days in WA Business communications: to email or not to email, that is the question ...
M&FB Online: 24 March 2009
In this issue: (click on the titles below to read the full story) Aggregators Certificate IV Compliant– congratulations Pay 50% now and 50% later, including Early Bird prices! Lessons...
MFAA Economic Review March 2009
MFAA Economic Review March 2009
M&FB Online: 10 March 2009
In this Issue: And the Award winners are… MFAA Member Mystery Shopping ASIC enforcement of low doc loans ...
M&FB Online: 24 February 2009
In this issue: Previously sold out and NEW education opportunities Expressions of interest for the Accredited Mentor Program Special Offer: MFAA Business HealthCheck for...
MFAA Economic Review February 2009
MFAA Economic Review February 2009
M&FB Online: 10 February 2009
How you can put your business on the road to success Warning to Members: Lead Generation Scams ...
M&FB Online: 13 January 2009
Hello, welcome back and happy New Year! I hope you had a good rest and an enjoyable break after what was a challenging year for everyone. After receiving feedback from members via surveys and direct contact, I...
MFAA Economic Review December 2008
MFAA Economic Review December 2008
MFAA Economic Review November 2008
MFAA Economic Review November 2008
M&FB Online: 25 November 2008
MFAA Annual Report now available online MFAA State Election Results Skill up during Christmas slowdown Revisit your business and marketing plans Getting the good ones (part 1) -...
M&FB Online: 28 October 2008
Notice of the Annual General Meeting MFAA IT systems are back on track Excellence Awards nominations closing soon Vote for Your State...
MFAA Economic Review October 2008
MFAA Economic Review October 2008
MFAA Economic Review September 2008
MFAA Economic Review September 2008
M&FB Online: 14th October 2008
Have your say on the Government's reform of Consumer Credit MFAA Education Online - more than you think MFAA/GOLDSEAL Broker Manual ...
M&FB Online: 26 August 2008
MFAA appears before Inquiry into Competition in the Banking and Non-bank sectors National Regulation Update 2008 MFAA Elections Celebrating Your...
MFAA Economic Review August 2008
MFAA Economic Review August 2008
M&FB Online: 12 August 2008
MFAA News Participate in something beyond just an event Talking business on QANTAS Shaping your industry MFAA Tracker...
MFAA Economic Review July 2008
MFAA Economic Review July 2008: View the latest industry statistics
M&FB Online 8 July 2008
Transparency of relationship and looking after the consumer MFAA Update - Fees charged by Brokers Update: RPE for Certificate IV Financial Services (Finance and Mortgage Broking) ...
M&FB Online: 10 June 2008
Special General Meeting Reminder RPL Green paper submission MFAA State Committees Survey Winners are Grinners! COSL Hardship guidelines WA Code of Conduct Inquiry...
MFAA Economic Review May 2008
MFAA Economic Review May 2008: View the latest industry statistics
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...
M&FB Online: 13 May 2008
New MFAA Convention Format Pays Off Productivity Commission Final Report Recommends Federal Credit Regulation (including brokers) Productivity Commission Recommendation re ADR (EDR) schemes ...
M&FB Online: 30 April 2008
Channel Conflict Key finding- brokers go beyond the call Qld Operators new maximum interest rate Bill More strings added to the UCCC bow MFAA...
MFAA Economic Review April 2008
MFAA Economic Review April 2008: View the latest industry statistics
M&FB Online: 9 April 2008
The future of your industry Exclusive insights from BT's Chris Caton It's not all doom and gloom for brokers ...
M&FB Online: 25 March 2008
Broking legislation to go federal? New Franchising Code manual from ACCC ASIC Inquiry on entry and exit fees MFAA challenges JP Morgan/Fujitsu report ...
MFAA Update: Economic Review March 2008
MFAA Update: Economic Review March 2008 - Industry Statistics
MFAA Update: Industry News 5 March 2008
And the winner is… Don't run the RISQ Interest Minimisation Strategies Guidelines MFAA Member Benefits Offering: Exclusive Car Insurance ...
MFAA Update: Economic Review February 2008
MFAA Update: Economic Review February 2008 - industry statistics
MFAA Update: Industry News 12 February 2008
MFAA 2008 Excellence Award Finalists Announced MFAA National Finance Broking Regulation Seminar WA Members: Employee or Independent Contractor? Asset Backed Commercial Paper Market MFAA Member...
MFAA Update: Industry News 29 January 2008
Productivity Commission report on National Regulation and EDR schemes National Finance Broker Regulation seminars MFAA AML/CTF course Mortgage & Finance Brief February 2008 Introducing new...
MFAA Update: Industry News 16 January 2008
National Finance Broking Regulation - Submission discussion group Maximum Remuneration Review WA Update: Employee or Contractor? MFAA 2008 Excellence Awards ...
MFAA Update: Economic Review December 2007
MFAA Update: Economic Review December 2007 - industry statistics
