Our consultation process
The MFAA represents the entire mortgage and finance broking industry and consults with our members through regular communications, forums and events that contribute to our advocacy initiatives.
The MFAA has long relied on its established National Forums to assist constituent engagement by members of specific industry sub-sectors. These Forums do not form part of our formal governance and are advisory in nature, but play a vital role in conveying the best interests of our members and the broader industry.
They create a critical link between the various sectors of third-party intermediated lending in Australia, providing an important channel for members to shape and influence the industry.
The forums are an important way for members to shape and influence the industry to improve customer outcomes.
The National Aggregators Forum provides a platform for the larger aggregation groups to review and discuss issues facing the industry as a whole and to assist us in dealing with challenges, formulating positions and considering potential solutions and their consequences.
The National Lenders Forum comprises 14 lender members, four from the major banks and 10 from smaller bank and non-bank lender members which distribute their products through intermediaries.
The forum discusses matters affecting the third-party channel.
The National Compliance and Regulatory Forum was established for members to share experiences, knowledge and intelligence on compliance matters for the mutual benefit of all members.
Its objectives include determining industry best practice and consistent standards relating to legislative and regulatory compliance with a view to adopting these standards across the industry as businesses and licensees believe it is appropriate and meets their needs.
Consisting of brokers, lenders and aggregators, the MFAA Equipment and Commercial Finance Forum (E&CF Forum) is committed to representing the interests of commercial brokers while promoting the benefits of diversification into the E&CF space.
The MFAA National Mortgage Managers Forum engages with this key industry sector to ensure the views of mortgage managers are heard and carefully considered to inform consultation with Government and Regulators.
The forum meets on a regular basis to discuss issues of concern to the sector and, where required, to escalate those issues to the management of the MFAA and potentially to the MFAA Board.
Broker regulatory roundtables form part of the MFAA’s industry engagement approach when formulating positions and communicating with Government and Regulators
We engage in regular informal consultation to ensure it captures “coal-face” feedback from its members as a key source of information. This informs feedback is received in a timely manner that informs decision-making at key moments.