Press Releases

Latest MFAA Industry Intelligence Service Report (IIS) highlights strong broker performance despite tough market conditions and severe credit tightening

The Mortgage and Finance Association of Australia (MFAA) has released the latest Industry Intelligence Service Report (IIS) 8th edition highlighting the strong performance and systemic importance of mortgage brokers at a time of tough market conditions, severe credit tightening and unprecedented industry scrutiny. 

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ASIC provides customer-friendly guidance on guarantor and co-borrower arrangements

Do you have clients that are considering a request to be a co-borrower or guarantee a loan?

Whilst these are not uncommon arrangements, they can be easily misunderstood leaving many people to underestimate the risk that can potentially be attached to being a co-borrower or guaranteeing a loan.

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QBE's latest Housing Outlook Report - capital city house prices forecast to rise – download now

According to the latest QBE Housing Outlook Report for 2019-2022, house prices across all capital cities are expected to stabilise over the coming year, before population growth and a downturn in new dwelling completions results in prices increasing.

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Government announces tool to help small businesses lower energy costs

The Federal Government has launched a new tool to help small businesses reduce energy costs and improve energy efficiency.

The Government’s Business Energy Advice Program (BEAP) will give small businesses access to two new free services: a personalised energy advice service and an online tool to help you understand and take advantage of energy saving opportunities.

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Get the latest mortgage customer insights plus take the RFi Group survey

RFi Group, a global financial markets research company, is conducting research into Australia's mortgage market – including collecting insights from consumers, lenders and brokers.

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MFAA launches latest series of Regulatory Roundtables

The MFAA is holding a series of five broker Regulatory Roundtables to talk through any potential unintended consequences identified in the recently released draft National Consumer Credit Protection Amendment (Mortgage Broker) Bill 2019 and draft Regulations.

Press Releases

Your Broker Behind You campaign - end of agreement with Kyal & Kara

Over a year ago the MFAA launched a national advertising campaign aimed at highlighting the value mortgage brokers deliver to their customers and the economy more broadly.

Featuring former winners of The Block, Kyal & Kara, the campaign titled Your Broker Behind You was strategically rolled out, in anticipation of greater industry scrutiny, to portray the positive benefits that brokers deliver.

Press Releases

MFAA's initial response to draft NCCP Amendment (Mortgage Broker) Bill 2019

First published 27 August 2019

Yesterday, the Government released the draft National Consumer Credit Protection Amendment (Mortgage Broker) Bill 2019 and draft Regulations. This draft Bill is in response to recommendations made by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Press Releases

Mortgage brokers record highest year-on-year market share during seasonal low point for the channel

The mortgage broker channel has recorded its highest ever residential home loan market share for the April – June 2019 quarter of 55.8%, according to the latest data released by research group comparator, a CoreLogic business, and commissioned by the MFAA.

The unprecedented June quarter result, achieved during the seasonal low point for the broker channel, is 1.9 percentage points higher than the equivalent 2018 quarter and 4.3 percentage points higher than the equivalent 2017 quarter.

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PROSPA GROUNDBREAKERS: First Home Buyer Buddy founders on brand fundamentals and finding their niche

Fresh from their win in the Support Service Provider Award category at the MFAA National Excellence Awards, we sat down with Lisa and Daniel Baxter of First Home Buyer Buddy to find out the secrets to their success for this edition of Prospa Groundbreakers.

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Award winning Darwin broker Michelle Lewis imparts some small-town wisdom in this edition of PROSPA’S The Long Road, Tales of Regional Brokers

In this edition of PROSPA’S The Long Road, Tales of Regional Brokers, Michelle Lewis from Easy Loans in Darwin, imparts some small-town wisdom and proves that even in the finance industry, ‘slow and steady’ can still win the race.

Moving to Darwin from Adelaide 13 years ago, Michelle now considers herself a local in what she describes as a transient town. And if community connection is anything to go by, she is as local as they come.

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MFAA celebrates National Excellence Awards 2019 and new life member

The Mortgage and Finance Association of Australia (MFAA) has celebrated the finest of the Australian finance broking industry and announced the induction of a new association life member at the MFAA National Excellence Awards 2019 at Crown Melbourne on Thursday.

The awards are the culmination of the MFAA’s National Roadshow and State Excellence Awards ceremonies, held across five capital cities over recent months, and are designed to reward excellence in customer service, professionalism, innovation and ethics.

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Scamwatch mid-year update: $16M scammed just the tip of the iceberg

The Australian Competition & Consumer Commission (ACCC) has released a mid-year update outlining the potential costs and reach of identity theft scams in 2019 to date.

According to the ACCC, reported scams involving identity theft or the loss of personal or banking information has cost Australians at least $16 million this year, a figure that is likely to be just the tip of the iceberg.

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MFAA updates NCCP Disclosure Module guidance for brokers

The MFAA has recently updated its NCCP Disclosure Module guidance and templates for brokers in both short and long versions.

These documents provide information about disclosures for finance brokers, and also provide templates that can be used with customers.

Press Releases

CHOICE media campaign not representative of mortgage broking industry

First published 18 July 2019.

The Mortgage & Finance Association of Australia (MFAA) has today expressed disappointment that its membership and the mortgage industry has been misrepresented by a CHOICE media release regarding broker education and accreditation.

The release makes a number of statements which are misleading including stating that mortgage brokers only require a Certificate IV in Finance and Mortgage Broking to work in the industry.

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Top tips for reducing your customers' worries and anxieties

As all good brokers know, the majority of your customers aren't coming to you just for a mortgage. The reality is, they've got bigger dreams and aspirations they want to achieve; be it the great Australian dream, creating a safe and secure home for their family, or looking for financial prosperity – and your role is to go above and beyond to help them achieve this.

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MFAA to upgrade MyResources menu layout and functionality

In our pursuit to constantly improve our member's experiences, we will soon be upgrading the look, layout and functionality of our members-only MyResources website menu.

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MFAA members recognised at the 2019 Australian Broking Awards

The MFAA would like to congratulate all the finalists and winners recognised at the recent 2019 Australian Broking Awards (ABAs) – particularly those MFAA members.

Held at The Star Sydney on Friday, 5 July, the ABAs celebrate professionalism, best practice and innovation in mortgage broking, and recognises the leading brokers, brokerages, aggregation groups and staff that support them.

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MFAA announces July to December 2019 events

Are you looking to get the latest regulatory updates, learn some new skills or techniques, network with like-minded brokers or build up your CPD points? Here's a list of the coming MFAA events for the remainder of 2019.

MFAA National Excellence Awards
25 July – Melbourne

STATE EVENTS

NSW
1 November - NSW Golf Day
13 November - Port Macquarie PD Afternoon

Supreme Court decision may put social media hosts at risk

A landmark NSW Supreme Court ruling* has highlighted the dangers of posting on social media sites and also hosting the comments of others that could be deemed defamatory.

The decision handed down on Monday, 24 June 2019 held that media organisations are liable for allegedly defamatory comments made by third parties on their public Facebook pages.