News

Customers ‘flocking’ to Mortgage brokers despite tarnished image’…in The Australian

A recent article on The Australian, ‘Customers ‘flocking’ to Mortgage brokers despite tarnished image’, published 15 June, reports favourably on the continued consumer confidence in brokers, which is reflected by the latest home loan market share figure.

News

AFCA consults on draft Rules

The Australian Financial Complaints Authority (AFCA) will commence on 1 November 2018, replacing the Financial Ombudsman Service (FOS), the Credit and Investments Ombudsman (CIO) and the Superannuation Complaints Tribunal (SCT) (predecessor schemes).

News

Chatbots – the way of the future?

Brokers looking to stay relevant in an increasingly digitised world are turning to chatbots for full-time assistance. Here’s how they can help you today.

A chatbot is a computer program, harnessing artificial intelligence, able to conduct a conversation, and is often designed to answer customer service questions on websites, instead of customers having to wait for a human response (via email or phone).

News

QLD State Excellence Awards results

The MFAA held its QLD State Excellence Awards on the 7th June at the Brisbane Convention and Exhibition Centre, with 17 awards on offer.

The MFAA would like to thank all finalists and congratulate the winners in each category, including:

News

PROSPA GROUNDBREAKERS: Janine Leafe on broker education's need to evolve

So often, a successful career can hinge on a life-changing turning point.

For Informed Loans’ Janine Leafe, that period came in 2015. She just started out in the broking industry when she was struck with a series of tragic family losses.

Press Releases

Consumers continue to select brokers as the preferred channel for a home loan – latest market share data

The latest market share data sourced by the Mortgage & Finance Association of Australia (MFAA) reveals continued - and growing - consumer confidence in mortgage brokers.

Australian brokers settled $46.1 billion in residential home loans in the quarter to March 2018, which is the largest March quarter for the channel (by value) since data collection commenced in 2012.

Press Releases

Mortgage Broking Through a Different Lens: Industry Defence

Originally published via Message from the CEO, 12 June 2018

Dear member,

I know many of you feel the mortgage broking industry has been on the receiving end of some unfair criticism this year. I agree.

News

SA/NT State Excellence Awards results

The MFAA held its SA/NT State Excellence Awards last Thursday 31 May at Adelaide Oval, with 18 awards on offer.

The MFAA would like to thank all finalists and congratulate the winners in each category, including:

News

Great resources for brokers in Genworth's free It's My Home magazine

Genworth, a leading provider of lenders mortgage insurance (LMI) has recently published the latest edition of its magazine, It’s My Home, containing a great range of consumer-targeted content and tools you can use to engage with your customers.

News

When mainstream lenders say no, consider 'near prime'

SPONSORED

As a broker, choosing the right lender for your customer's mortgage can be tricky. There are countless factors to consider, such as which lender has the most responsive BDMs, the fastest turnaround times, and ultimately, who will get you a ‘yes’.

News

ASIC offers disclosure relief in AFCA transition

The Australian Securities & Investments Commission (ASIC) has announced that it will give financial firms, including credit businesses, time to update mandatory disclosure documentation with contact details about the new EDR scheme, the Australian Financial Complaints Authority (AFCA).

News

NSW/ACT State Excellence Awards results

The MFAA held its NSW/ACT State Excellence Awards last Thursday 17 May at the Hilton Sydney, with 18 awards on offer.

The MFAA would like to thank all finalists and congratulate the winners in each category, including:

News

ASIC and ACCC publish scam information

The Australian Securities & Investments Commission (ASIC) has published tips to assist consumers to avoid scams.

News

Government responds to Open Banking Review

The Government has responded to the Review into Open Banking by agreeing to recommendations for a Consumer Data Right to give Australians greater control over their data, empowering them to choose to share their data with trusted recipients when they authorise it.

The Consumer Data Right will be implemented initially in the banking (Open Banking), energy, and telecommunications sectors, and then rolled out economy-wide on a sector-by-sector basis.

News

How to create a productive home-office environment

Brokers who work from home will know the pros and cons of a home office.

While there’s freedom and flexibility, it’s also easy for productivity to slip with no-one to encourage you.

Here are some tips to help.

News

Federal Court sanctions credit repair group

The Australian Securities & Investments Commission (ASIC) recently published information about Court action against a credit repair group. MFAA members are encouraged to conduct their own due diligence when choosing service providers including those that claim that they are able to assist with the removal of illegitimate credit record entries for clients. Members should also note that individuals can themselves apply direct to an entity (for example, a lender) to correct a negative listing if it is inaccurate.

News

APRA announces new Restricted ADI framework

Following consultation on changes to authorisation of new entrants to the banking industry late last year through a proposed ‘phased approach’, the Australian Prudential Regulation Authority (APRA) has announced the establishment of a ‘Restricted ADI’ framework.

News

VIC/TAS State Excellence Awards results

The MFAA held its VIC/TAS State Excellence Awards last Thursday 10 May at Crown Melbourne, with 18 awards on offer.

The MFAA would like to thank all finalists and congratulate the winners in each category, including:

News

AFCA authorised as nation’s financial and credit services complaints management scheme

The Australian Financial Complaints Authority (AFCA) has been authorised as the nation’s financial and credit services complaints management scheme.

The new authority will replace the two existing ASIC-approved EDR schemes, the Credit & Investments Ombudsman (CIO) and the Financial Ombudsman Service (FOS), and will also incorporate the Superannuation Complaints Tribunal (SCT).

News

Mixed housing price growth forecast by QBE

First-home buyer incentives, population growth and limits on investor lending are now driving the Australian property market, according to the inaugural QBE Australian Housing Outlook Update.