Mentoring

​​​​Mentoring is rapidly becoming recognised and accepted as the most effective and efficient business development process for new to industry entrants. 

Mentoring is a relationship between Mentor and Mentee providing structure, systems, process, clearly defined and measurable outcomes, and encouragement and support over the first two years of a new entrant's journey.

The MFAA can provide Mentors and Mentees with access to an innovative Mentoring Program which has been developed specifically for our industry stakeholders in partnership with the Institute of Strategic Management (ISM).  The program is a cost efficient investment for Mentors and Mentees and is an affordable dynamic and leading program available to you as a Member.​​​​

Overview​​​​

The MFAA is seeking expressions of interest from Members who are interested in becoming an MFAA Accredited Mentor in the revised MFAA Mentoring Program.

Please register your interest by contacting Professional Development on 1300 554 817 or email professionaldevelopment@mfaa.com.au

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Program Outline

The MFAA Mentoring Program consists of four stages, nominally completed over 24 months, subject to fast tracking. Each stage includes learning material, resources and tools.  For example practical sample templates such as checklists, assessment tools, business planning systems, budgeting, cash flow management tools, networking and other lead generation methods.

Each stage of the program consists of various activities and tasks which a Mentee will need to demonstrate competence in as a pre-requisite to commencing the next stage of the program.

A purpose built Mentee/Mentor portal and process provides a 'passbook' approach to monitoring and tracking progress for management of a Mentoring plan.  Mentors will be encouraged to work with Mentees to ensure they demonstrate competence and therefore sign-off on evidence that may require a value judgement from the Mentor regarding progress and final competence assessment.

The four stages of the MFAA Mentoring Program are:

  1. Getting Started.
  2. Up and Running.
  3. Building Momentum.
  4. Developing Expertise.​

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The Mentee can complete the two year program and optionally combine a Diploma Finance and Mortgage Broking Management in the first 12 months with the Institute of Strategic Management or with another appropriate Registered Training Office.​

The MFAA Mentoring program is an accessible, affordable, structured, consistent and dynamic program.  The associated cost structure is as follows:-

Item Costs (exc GST) Details
Mentor – One off initial Registration Fee$600Per Mentor
Mentor – Annual subscription license for Aggregators and Mortgage Managers$75Per Mentor
Mentor – Annual subscription license for Non Aggregators and Mortgage Managers$25Per Mentor
Mentee  Program Enrolment$800Per Mentee (excludes diploma costs)

Mentee

A Mentee is a membership applicant with less than two years' experience (over the past five years) in mortgage lending, mortgage broking or finance broking.

The Mentee is required to engage a Mentor to support them as a Finance Broker until they have achieved a minimum of two years loan writing experience. The Mentor is required to declare at the point of the Mentee's first and second membership renewal (or on attainment of two years' experience, whichever occurs first) that the Mentee has undergone a mentoring program which ensures the Mentee is able to operate as a 'competent' loan writer.

'Competent' means:

  • the Mentor is satisfied that the Mentee can satisfactorily conduct a client interview unassisted, (including, where relevant a First Home Buyer Grant) including completion of loan/finance application forms and carrying out stamp duty and LMI calculations;
  • the Mentee has completed a minimum of 12 settled loan applications vetted and signed off by the Mentor or a similarly experienced delegate;
  • the Mentee has maintained a log of all relevant loan writing activities during the Mentoring period;
  • the Mentee must have achieved the required CPD hours for the period of membership; and
  • the Mentee has completed a minimum total of two years loan writing experience gained within the previous five years through Mentoring including any previous relevant loan writing experience in that time.


Note: it is recommended the Mentee will have witnessed at least six client interviews by the Mentor or another similarly experienced loan writer during the mentoring period.

A Mentee engaging a Mentor will have up to 12 months from the date of joining the MFAA to complete the Diploma Finance and Mortgage Broking Management.

All Mentees must keep up-to-date records (in writing) of the outcomes of the relevant discussions, meetings and communications with their Mentor and other appropriate persons for later verification and evidence of 'competence'.  Such records should be counter-signed or endorsed by both the Mentor and Mentee.  Such endorsement can be verification from the Mentor by email of the meeting content, date and times.  A Mentee may wish to record their meeting using the Mentoring Activity Log.

A Mentee is not bound to the same Mentor during the mentoring period.  However, any subsequent replacement Mentor must satisfy the MFAA Mentor criteria.  The Mentee must advise the MFAA of the new Mentor by completing a Change of Mentor form.

Mentees interested in being Mentored should contact Professional Development on 1300 554 817 or email professionaldevelopment@mfaa.com.au

Mentor​

The mentor must be an MFAA member (or representative of an MFAA member) who:

  • is an MFAA Accre​dited Mentor (ie. a Member who has completed an MFAA mentor training program);  ​​or
  • is a member accredited to deliver an assessed and accredited mentor program; or
  • is a member with at least four years' experience as a loan writer or equipment and general business finance writer using their own mentor program; or
  • is a member who has written at least 50 successful loans or finance applications (in the case of a residential mortgage loan writer or an equipment and general business finance writer who has between two and four years' experience) using their own mentor program.

A person who is being mentored as part of their MFAA membership cannot be an MFAA mentor.​

If you are interested in becoming a MFAA Accredited Mentor please contact Professional Development on 1300 554 817 or email professionaldevelopment@mfaa.com.au

Ment​or Guidelines

The Mentor is required to declare at the Mentee's first and second membership renewal (or on attainment of two years experience, whichever occurs first) that the Mentee has undergone a mentoring program which ensures the Mentee is able to operate as a 'competent' loan writer. If the Mentor determines that the Member is insufficiently experienced, the Member must apply to the MFAA for an extension of the mentoring period.

Note:  'experience' and 'applications' in each case above means 'experience' and 'applications' relevant to the Mentee's field of activity i.e. either residential or equipment and commercial financing.

  • A Mentor may act as Mentor to more than one new member.
  • A Mentor does not have to be physically located closely to the new member but must be able to satisfy the standards required are being met.
  • If a member whilst under a mentoring program becomes the subject of a disciplinary matter the mentor is not to be held responsible for the member's conduct unless it is clearly established that the mentor has been guilty of some misconduct.

Mentee not ye​t 'competent'

If the Mentor is not prepared to sign off the second renewal of the Mentee because their 'competence' requirements have not been met then there are two options.

1.  Is there another person who is an MFAA member and satisfies the MFAA's Mentor criteria and will verify and certify that the Mentee has:

  • had 12 successfully settled loan vetted by a competent person (for whom the mentor will vouch); and
  • attended six interviews which have been witnessed by a competent person (for whom the mentor will vouch); and
  • completed a minimum of 2 years loan writing experience;

then that persom may complete the Mentor Declaration.​

2.   The mentoring period may be extended for an additional 12 months on application in writing by the mentor and mentee to and, on approval by, the MFAA.

Note: If the Mentee does not meet the requirements by the third renewal - i.e. the Mentor will not sign off mentee's 'competence' after a three year period - the Mentee's membership will be cancelled.

Assessed and Accredited Mentor Program

An Aggregator or Mortgage Manager may prefer to have their own program accredited with the MFAA.  This process will require an independent assessment and evaluation of the proposed Mentoring Program by the Institute of Strategic Management who are a registered training office for a fee of $3500.

MFAA encourages the adoption of the associations industry Mentoring Program.  The program is contemporary, modern, innovative and will be dynamically maintained and improved with industry input. 

For further information please about accreditation please contact Professional Development on 1300 554 817 or email professionaldevelopment@mfaa.com.au

The following table lists the programs which have been assessed & accredited as meeting MFAA's minimum Mentoring standards.

Program Name

Aggregator/Broking Group Mentors
AccelerateMortgage ChoiceApplicants with the Cert IV but no Diploma may join the MFAA after 12 months in Accelerate programme.
Astute MentorAstute John Evans
Aussie MentoringAussie Home LoansInternal

​Australis College

​Australis Mentoring Program ​

​Leisa Crew ​

Accelerated Mentoring ProgrammeLoan Market Group Pty LtdSteve Pettitt
Ken MacLennan
Cornerstone Sales ConsultingVariousTracie Palmer
​​eChoice​​eChoice Mentoring

​Nick Dalamagas
Blake Buchanan
Melinda Batt
Stephen Gibson ​
Alex Rossiter
Loan Gallery MentoringLoan GalleryInternal
​​Loanworx Group's Mentoring​Loanworx​ Group 
Pauline Ryan
Mark Ryan​
Mentorvision Mentoring ProgramAlphabroker Mentoring ​
Therese O'Neill
Judy Micallef
Kerry Rienhold​​
Daniel Kwan​​​
Kylie Platt
Sue Lepidi ​
​​​​New to Industry Broker Support Program ​nMb ​Internal​
Quality Financial Group Mentor Programme VariousSue Hayter
Simply Mentoring's 'Success is a Choice' ProgrammeVariousKaren Hambleton-O'Grady
Freddy Surjawididjaja
Diana McKenzie
Victor Koon
Christina Sun
Irene Ong
Jodi Carle
Maggie Smith
Kim Hubbard​
Don Goh
​Hana Vano
Tracy Kearey
Malyson Sayabath
Debra Gebbie
Brad Hetherington​​
David Johnston
Andrew Larcombe
Michael Vietc
​Lyndel Jefferys

Vow MentoringVow FinancialMona Abou-Zeid
Marina Lambert
Janette Tucker
Jack Wei
Allen Chan
Jia Wang
Peter Bryant
Ian Cook​​
Matt Clayton
Robert Ward
Marina Lambert
Katrina Parrington
William Chen
Donald Tang
John Martin
Kiran Thapa
Elizabeth Micevski ​

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