What is the difference between a Finance Broker and an Accredited Finance Broker?

The Finance Broker category is for those members who are yet to complete a Diploma and have less than two years’ experience in the last five years and require mentoring.

The Accredited Finance Broker category is for members who have two years plus active loan writing/lending experience in the last five years and have completed the Diploma of Mortgage and Finance Broking Management.

Can I join the MFAA if I have a criminal history or a default on my credit report?

If you have a criminal record or a default on your credit report, you will need to provide us with details of those matters. The MFAA is not able to accept membership applications from individuals who have been found to have committed an offence that is punishable on conviction by imprisonment, has a pending charge of fraud or dishonesty or has been convicted of fraud or dishonesty.

Can I join the MFAA if I have a valid work visa?

Persons residing in Australia with a valid work visa will be considered for membership of the MFAA. Applicants must provide a certified copy of your work visa and a signed copy of the Licensee Declaration Form.

Can I join the MFAA if I have been bankrupt?

Applicants and current members cannot be a current bankrupt. If you have previously been bankrupt and have since been discharged, you may apply for membership. As part of your application for membership, you must notify us of that bankruptcy and provide us with details of that bankruptcy.

Can I join the MFAA if I have completed a Certificate IV in Finance and Mortgage Broking?


Please note for a Finance Broker and Accredited Finance Broker membership and Mortgage Manager membership where the Mortgage Manager deals directly with the public, you will need to complete a Diploma of Mortgage and Finance Broking Management within one year of joining to maintain your membership.

Do I need to complete the MFAA’s Initial Compliance Pack to join if I have industry experience and other relevant qualifications?

Yes, completion of the Initial Compliance Pack is compulsory for all new members. The course is designed to assist mortgage and finance brokers in their understanding and compliance with relevant legislation that governs corporate, broker and lending activities.

The Initial Compliance Pack comprises the following units:

  1. Introduction and National Consumer Credit Protection Act
  2. Privacy Act
  3. Compliance Essentials
  4. MFAA Standards and Operating Guidelines
  5. Banking Code of Practice - Mortgage Broker Guidance and Obligations
  6. Mortgage Broker Best Interests Duty and Conflict Priority Rule
  7. Anti-Money Laundering/Counter Terrorism Financing.
How do I choose an aggregator?

Choosing an aggregator is an important step in establishing yourself as a finance broker. Our State Managers can help and more information is also available on the Aggregator Members page.

I have ticked 'yes' to a declaration question, what do I need to do?

If you tick Yes to any of the declaration questions, please email ua.moc.aafm@pihsrebmem with a detailed explanation of why you ticked 'Yes' to the question. The information you provide will be considered as part of your application.

What Certificate IV and Diploma education program course codes does the MFAA accept?

We only accept a Certificate IV or Diploma course code from a Registered Training Organisation (RTOs).

The following codes are the most current education programs provided by RTOs:

  • Certificate IV Finance and Mortgage Broking - FNS40821, FNS40815
  • Diploma Finance and Mortgage Broking Management - FNS50320, FNS50315

If you have completed an alternate course to the above, email ua.moc.aafm@pihsrebmem a copy of your completion certificate to review.

What Registered Training Organisations (RTOs) offer Certificate IV and Diploma education programs for the Mortgage and Finance Broking industry?

You can find the list of preferred MFAA Registered Training Organisations of the Certificate IV and Diploma programs on our Registered Training Organisations page.

Can I get a refund of my application and/or membership fees?

Once a membership application review has commenced, the application fee is not refundable. Membership fees are not refundable once the membership has been approved and commenced.

What additional fees do you charge?

The Membership Application fee is for reviewing and processing new membership applications. It is not refundable once a membership application has been reviewed.

A merchant fee surcharge of 1.35% applies to all credit and debit card payments including Visa, Mastercard and AMEX credit card payments.

Can I claim my annual membership fee on my tax return?

Yes, your membership fee is tax deductible as part of your business expenses.

Is there a membership discount for Commercial & Asset Finance Brokers Association (CAFBA) Members?

Yes. We have a reciprocal membership arrangement with current financial members of CAFBA. A 50% discount applies to the annual MFAA Individual Finance Broker or Business Broking membership fee. The MFAA membership discount will only apply to the name shown on the CAFBA certificate.

Contact the Membership team prior to paying your invoice to get the discount applied at ua.moc.aafm@pihsrebmem


How do I find a mentor?

Contact your MFAA State Manager to discuss mentoring options.

Alternatively visit the Find a Mentor page.

How long do I need to be mentored for?

Mentoring is required for two years.

Do I have to work for my mentor?

Mentor requirements vary between aggregators. Whilst you may not have to work for your mentor, your aggregator will most likely require you to be mentored by someone who also aggregates through them. Make sure you check your aggregator's mentoring requirements.

Your MFAA State Manager can also help with your mentoring options.

Does my mentor have to operate in the same state?

Choosing an aggregator comes before choosing a mentor. Your aggregator may have a preference who your mentor should be.

Contact our State Manager to discuss your mentoring options.

I would like to change my mentor. How do I do this?

Ideally you will have the same mentor for the two year period. However, there may be a need to request a change of mentor. Provided the new mentor satisfies the MFAA mentor criteria, the mentee must advise the MFAA of the new mentor by completing a Change of Mentor form.

Do I need to notify the MFAA if I change aggregator?

Yes. Members can change their details by logging into their MFAA member profile. Once you have logged in you can change your aggregator by simply clicking on “My Membership” then “Update My Details”.

How do I complete the AML/CTF refresher?

The AML/CTF refresher is part of the membership application renewal process. After you login to the membership portal select ‘Renew My Membership’ and follow the enrolment process, which will automatically enrol you in the AML/CTF refresher in the MFAA Learning Hub.

How often do I have to do the AML/CTF refresher?

Members are required to complete the AML/CTF refresher every two years. You will automatically be prompted to complete an AML/CTF refresher as part of your renewal when it is due.

How do I download my Membership Certificate and/or invoice?

Certificates can be found on your membership profile by selecting “My Membership” then “My Documents”. Sometimes it may be necessary to clear your browser cookies and history if you experience problems. Alternatively, try a different internet browser.

I have paid for my membership but cannot locate my Membership Certificate?

If you have not received a confirmation email with the link to download your Membership Certificate, it may be because you have not provided all the necessary forms as part of the membership application to join and/or membership renewal process.

If you have provided everything required and still cannot locate your Membership Certificate, contact the Membership team at ua.moc.aafm@pihsrebmem or on 1300 554 817.

I have a business membership how do I get a certificate in my name?

Business memberships are issued in the business name. You can use your Statement of Attainment (issued in your personal name) in conjunction with your Business Membership Certificate to provide proof of membership.

I am a returning member, what do I need to provide?

We would love to welcome you back to the MFAA who represents over 14,000 members in the mortgage and finance industry. Contact our Membership team or your State Manager to discuss how we can help you.

Professional development

Can I claim CPD points if I am also a financial planner?

Qualified financial planners can have a maximum of 12 hours of financial planning CPD that also contributes to their MFAA CPD hour requirements.

How do I earn more CPD hours?

CPD hours are earnt in a variety of ways. To find out more visit the CPD requirements page.

How many CPD hours do I need each year?

Members holding a loan writing status are required to maintain a minimum of 30 CPD hours each membership year.

To find out more visit the CPD requirements page.

How many CPD hours do I receive for mentoring or being mentored?

Mentoring or being mentored - up to 18 hours of CPD per year.

Why are my CPD hours not showing on my membership profile?

Check that the date entered for your CPD hours is within your membership year. Only CPD hours within the dates of your current membership will count for that membership year.

Note your Certificate IV and Initial Compliance Pack will have been completed prior to joining so when entering these into your CPD, change the dates to be within your membership year.

Will my CPD hours be updated automatically for webinars and events I attend?

Yes, all PD events and webinars held by the MFAA will be automatically updated after the event/webinar, subject to your registration email address for the event/webinar being the same as the email address on your membership profile.

If you register with a different email address you will need to manually add your CPD hours to your account.

Are MFAA webinars recorded and available to watch at a later stage?

Yes. All webinars are recorded and can be generally accessed a few days after the webinar date in the MFAA Learning Hub.

Consumer calculators

Can I change the colours to suit my website?

No. The calculators come in a defined range of colours.

Can I have my company logo instead of the MFAA logo on them?

No. The discounted calculator price is made available to members provided that the MFAA brand is included without any other logo.

Do I have to have all 28 calculators on my site?

No. It's up to you. Each calculator has a different code and can be embedded individually, so you can pick-and-choose. We recommend you choose calculators that suit your customer base.

Do the calculators have a responsive design?

Yes. The calculators are optimised for mobile and desktop.

I’m not an MFAA member. Can I gain access to the calculators?

This benefit is only available to MFAA members. As part of their membership they get access to the suite at a cost-saving price.

I’m not IT savvy. Are the calculators easy to install?

These calculators are easy to install although some general html and/or CSS knowledge is required. Comprehensive installation instructions are supplied to allow those with this general knowledge to manage the installation process. Otherwise, employing a website developer to help is highly recommended.

What colour options are available?

The new calculators are available in the following colour combinations

  • Blue/green
  • Blue/orange
  • Blue/grey
  • Green/grey
  • Red/black
MFAA Loan and Finance Calculator Terms and Conditions

The Mortgage and Finance Association of Australia (MFAA) has negotiated a special member’s-only deal for members to access a suite of twenty-eight online loan and finance calculators for the price of $99* (Including GST) per annum. The online calculator tool provides multiple calculation types.

The terms of this offer include:

  1. the online calculator is the property of the MFAA, and cannot be altered in any way, including adding, removing, or changing the brand logo;
  2. each licence can only be used on one website and must not be used amongst a group (for example, a single franchisee could place the calculator on its website, but the franchise group or an aggregator could not);
  3. all members must include a clear disclaimer within close proximity to the calculator and the results stating
    The calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative.
  4. if a member shares the calculator with another person without prior written approval from the MFAA, that member may have their MFAA membership cancelled, the calculator access revoked, and the member is liable for any damages suffered as a result;
  5. the MFAA can terminate your access immediately without refunding any licence fee if it reasonably suspects misuse of the calculator by a member;
  6. the MFAA does not represent the accuracy or performance of the calculator;
  7. the member accepts all liability for any actions, suits, claims, demands, losses, damages, liabilities, cost and expenses resulting from the use of the calculator, and indemnifies the MFAA on a continuing basis against all or any actions, suits, claims, demands, losses, damages, liabilities, cost and expenses of any nature arising directly or indirectly from the calculator;
  8. the annual licence fee provides access for the agreed period (12, 24 or 36 months) from the date* this agreement is agreed to, and is not refundable in part or whole for early termination;
  9. upon completion of the initial 12, 24 or 36 month period, the member has the option to renew for an additional period to which the terms of this agreement will apply subject to any price amendments or any other changes to the term and conditions that may have occurred since the signing of this agreement
  10. the MFAA can cease offering the calculator at any time, in which case you will not be able to renew for a further annual subscription, but will usually still have use of the calculator until the end of your paid subscription; and
  11. the calculator vendor offers basic software support. The MFAA is not liable for any software support.

By paying for a subscription to the calculator, you agree to be bound by, and comply with these terms.

Please contact MFAA Member Services on 1300 554 817 (within Australia) if you have questions, or would like to arrange payment and receive your password.

*A 1.5% surcharge is applied for Visa and Master card payments. A 1.93% surcharge is applicable for American Express and a 3% surcharge for Diners Card payments.

Mortgage & Finance Association of Australia
ABN 62 006 085 552
Address: GPO Box 144, Sydney, NSW 2001