News

ACCC warns of rise in dating scams

The Australian Competition & Consumer Commission’s (ACCC) Scamwatch is urging tech-savvy daters to be on the lookout for romance scammers this Valentine’s Day. Data shows these scams occur increasingly through social media and dating apps.

News

Royal Commission findings and what you should do to support our industry

The Royal Commission has signalled changes that could threaten your business.

The industry faces potential policy changes that could make the mortgage broker channel unsustainable, drastically reducing competition, choice and access to credit in home lending, while delivering a windfall for major banks.

News

ARCA changes default reporting code protocol

The Australian Retail Credit Association (ARCA) is the peak Australian body for organisations involved in the disclosure, exchange and application of credit reporting data in Australia.

Members include the credit reporting bodies (CRBs), major banks, other lenders, specialist consumer finance companies, utilities and peer-to-peer lenders.

Press Releases

Now is the time to make your voice heard! Support our national campaign.

First published on 7 February

Dear Member,

Please click here to see a media release distributed a short time ago.

Press Releases

Industry Urges Australians To Protect Competition in Home Lending

The Mortgage & Finance Association of Australia (MFAA) and a coalition of industry partners have launched a national campaign to remind Australians what a world without brokers would look like.

The industry faces potential policy changes that could make the mortgage broker channel unsustainable, drastically reducing competition, choice and access to credit in home lending, while delivering a windfall for major banks.

Press Releases

Customers pay while the big banks profit

The recommendations on mortgage brokers represent a huge win for the Big Four banks.

Destroying the viability of the mortgage broker channel would immediately reduce competition and drive customers back into the branches of the banks with the largest branch networks.

MFAA CEO Mike Felton said these recommendations did not represent a good outcome for consumers.

News

Elevate your business to the next level. MFAA's Excellence Awards are now open

Entries are now open for Australia’s most prestigious broker-industry awards, the MFAA Excellence Awards 2019.

The MFAA Excellence Awards celebrate the work of the industry’s best brokers, businesses and industry professionals.

There are 22 individual, business and lender award categories to enter or be nominated for and to lodge your vote.

News

Insurance Council warns over hail storm scams

The Insurance Council of Australia (ICA) has warned property owners about potential scams involving losses suffered in recent hail storms. Scammers posing as builders, roof inspectors or insurance company assessors have attempted to offer to conduct building inspections and repairs, particularly for damaged roofs. The warning includes information that insurers will not send an assessor or builder to a customer’s home without first notifying them and provides guidance on checking tradesperson licence details.

News

NSW Digital Driver Licence Trial

The Australian Transaction Reports and Analysis Centre has advised that the NSW Government is trialling a Digital Driver Licence and that it “considers a Digital Driver Licence issued by an Australian State or Territory authority to be an independent and reliable document to verify customer information.”

News

PROSPA'S The Long Road – Tales of Regional Brokers – John Whitten on spotting the signs of mental crisis

This article addresses sensitive issues of mental health and suicide. If you feel in any way distressed by the content and would like to speak to someone, please call LifeLine on 13 11 14.

‘Are you thinking of killing yourself’ is one of the hardest things you can ask a person. Last year Gladstone broker John Whitten asked it 1,300 times.

News

PPS registration renewal may be due

Registrations of security under the Personal Property Securities Act 2009 (PPSA) that were made on or about 30 January 2012 when registration on the PPS Register first became available may be due for re-registration. Some types of collateral, including ‘consumer property’ and personal property that must be identified by serial number may only be registered for a maximum duration of 7 years.

News

MEMBER BENEFITS: Valentine’s Day is just around the corner

With Valentine’s Day fast approaching (14 February), MFAA members can save on some great Valentine’s Day gifts. Spoil your loved one with a beautiful arrangement of roses or other flowers from Petals and receive a 20% discount. Click here for more. Or treat your loved one to an amazing RedBalloon Valentine’s Day experience like a romantic dinner, scenic flight, spa package or secluded getaway and receive $20 off when you spend $79 or more.

News

Latest free consumer article for members: When is the best time to refinance your home loan?

Refinancing customer scenarios can be complex.

Finance brokers can support their customers through the assessment process by sharing helpful articles about their refinancing options.

As part your MFAA membership, you have exclusive access to a library of professionally written articles on consumer-interest finance topics to assist you to engage your customers and market your service.

News

Small business digital tech grants now available

The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell recently announced the Small Business Digital Champions project to encourage small businesses across Australia to understand and make the most of the digital technology options available to them.

In short, it’s a virtual train-the-trainer initiative where small businesses will be able to follow the digital progress of other businesses and see what can be realistically achieved in their own business.

News

#choicematters launched by Connective

With the Royal Commission's final report due to be released by 1 February, the MFAA would like to remind all brokers and industry stakeholders to continue supporting the variety of aggregator advocacy campaigns and initiatives that have recently been launched. These campaigns are designed to remind the public - and policy and decision makers - of the value mortgage brokers provide, and highlight the impact of any changes that may be made to the broker channel.

News

PROSPA GROUNDBREAKERS: Honesty and service driving Clark Griswold of broking down the road to success – Part 2

In this Part 2 of Michael Arbon’s Groundbreakers (read Part 1 here), the Adelaide broker offers further insight into his personal and professional ethos, what has helped him achieve success, and if he had his time again, what he would do differently.

Press Releases

Mortgage Broker market share surges to a record 59.1 per cent

The mortgage broker channel has achieved its highest ever residential home loan market share despite an overall reduction in lending of $8.46 billion compared to the same period in 2017.

According to the latest data released by research group comparator, a CoreLogic business, during the September 2018 quarter mortgage brokers settled an unprecedented 59.1 per cent of all residential home loans.

News

CCR and consumer credit education

Following legislative requirements, the four major banks are now contributing comprehensive credit reporting (CCR) data to credit reporting bodies (such as Equifax – previously VEDA), and other lenders and utilities, etc will be required to provide relevant data beginning in 2019.

News

Latest free consumer article for members: Rental yields – what you need to know

Are your customers asking questions about rental income rates? Need information to share with your customers about how rental yield is assessed?

As part your MFAA membership, you have exclusive access to a library of professionally written articles on consumer-interest finance topics to assist you to engage your customers and market your service.