Press Releases

CHOICE media campaign not representative of mortgage broking industry

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.


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.


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.


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.


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


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.


5 tips to engage with First Home Buyers

As First Home Buyers (FHB) return to the market, now is the ideal time to brush up on the best ways to engage with this unique and valuable client.

As a broker, one of the best parts of the job is meeting a wide variety of people. And while this keeps the job interesting, it also demands an ability to effectively communicate with different borrowers at different stages of life.


The hard truth! How do you have that capacity conversation with your clients?

Does this sound familiar? Your client has completed their estimate of living expenses, broken down into the dozen or more areas that your Fact Find categorises, and the sum total comes in at $3,430 a month for a family of four.

Then, you pour over their last three months transaction statements, and the brutal truth is revealed – their average living expenses are looking a lot more like $6,500 a month – this changes EVERYTHING!


PROSPA GROUNDBREAKERS: Perth wealth coach Helia Singh on client commitment and the ‘Ah-Ha’ moment that changed it all

Commitment is everything to Helia Singh.

After emigrating from Iran to Australia in 1996, Helia Singh began her career in finance with no experience, no connections and no English.

Two decades later, she is a successful wealth coach, financial planner, author, and award-winning community champion.


MFAA congratulates the Women in Finance Awards 2019 finalists

Last week The Adviser announced the finalists for the Women in Finance Awards 2019. The MFAA is pleased to see that all the finalists in the Mortgage and Finance Broker of the Year award category are MFAA members. This is a testament to the high standards of service and professionalism that MFAA mortgage broker members deliver to their customers.

Finalists in the Mortgage and Finance Broker of the Year awards category include:


MFAA announces the 2019 National Excellence Awards finalists

With the conclusion of the MFAA's 2019 State Excellence Awards program, the MFAA is now excited to announce the full list of 2019 National Excellence Awards finalists.

Celebrating excellence in customer service, professionalism, innovation and ethics, the National Excellence Awards finalists consist of the winners of the individual, business and lender awards categories from each State Excellence Award.


A complete process. Good for the customer, great for the broker

You wouldn’t leave a loan application half-finished. Would you leave your customer's loan protection quote unfinished?

By confirming a customer’s decision on their ALI loan protection quote* – whether the customer proceeds with the policy or not – you'll go in the draw to win.

Press Releases

MFAA calls for a more considered implementation on vulnerable customers

The MFAA has called for a more measured and careful approach to implementing a key element of the Australian Banking Association’s (ABA) new Banking Code of Practice (the Code) to ensure vulnerable customers are protected, and good outcomes for all customers are preserved.

Press Releases

Mortgage brokers record highest ever market share amidst tough market conditions

The mortgage broker channel has recorded its highest ever residential home loan market share result with brokers settling 59.7 per cent of all residential home loans during the January – March 2019 quarter, according to the latest data released by research group comparator, a CoreLogic business, and commissioned by the MFAA.

Press Releases

Appointment of Mark Haron to MFAA Board

​​The Mortgage & Finance Association of Australia (MFAA) has announced the appointment of Mark Haron as a Director to the MFAA Board with effect from 1 June 2019.


Prospa Groundbreakers: Mhairi MacLeod on backing yourself and success on the road less travelled

Mhairi MacLeod is the type of professional that appears to be everywhere at once while achieving great things against the odds.

The principal of Astute Ability Finance Group has forged a career by redefining what’s possible and breaking down barriers.

Nowhere is this more apparent than for women in finance.


Latest free consumer article for members: Is one phone call really all it takes to secure a lower interest rate?

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

This consumer article ‘Is one phone call really all it takes to secure a lower interest rate?’ explores the options available to consumers eager to get a better deal.


AFCA proposes to name financial firms involved in complaints

The Australian Financial Complaints Authority (AFCA) has proposed that, from 1 July this year, in the interests of transparency and rebuilding trust in the financial sector, it will name the financial firms involved in reported complaints. AFCA’s aim is to be “open, transparent and accountable to the public” and the organisation currently publishes updates on statistics and decisions.


ASIC consults industry on complaints management

The Australian Securities & Investments Commission (ASIC) has published a Consultation Paper 311 seeking responses from the financial services and credit sectors and from the public about how these businesses deal with complaints from consumers and small business owners.

ASIC’s Regulatory Guide 165 outlines the regulator’s current guidance on appropriate internal and external dispute resolution. The regulator expects to update RG165 following this consultation process.


ASIC reminds licensees about potential time delays

The Australian Securities & Investments Commission (ASIC) has issued a reminder to licensees in the financial services and credit industries to “factor in the time it may take ASIC to assess applications to cancel or vary their licence, as part of any measures by licensees to reduce the industry levy they are charged for the 2019-20 financial year.”