News

Managing Customer Complaints for a Better Business

Every business will get complaints but some believe that a complaint is a just a massive time waster. Complaints can challenge the way things are done and highlight a process failure that needs attention.

The question is: How do you use effective complaint management to improve your business model? Read on to find some information that will simultaneously help you to comply while enhancing your business.

News

Congratulations to the 2020 National MFAA Excellence Awards winners

The awards are the culmination of the MFAA Excellence Awards ceremonies which reward excellence in customer service, professionalism, innovation and ethics.

The 2020 MFAA National Excellence Awards winners are:

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Prospa Groundbreakers: Surinder Agnihotri of Trail Book Loans and Australian Business Credit

He’s the self-described ‘youngest old man’ of the finance industry. And after speaking with Surinder Agnihotri of Trail Book Loans and Australian Business Credit and learning about his diverse experience and passionate entrepreneurism, it is easy to see why.

With a quarter century in the industry, Surinder Agnihotri has used his time productively, turning an ability to understand what finance professionals need to help them grow their business, into multiple businesses of his own.

News

Free consumer article: What is Lenders Mortgage Insurance?

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

This week’s consumer article seeks to assist those eager to learn about the ins-and-outs and details potentially associated with obtaining a loan.

News

MFAA Champions of Diversity: Helia Singh, Assurance Finance and Business Solutions

Wealth coach and financial advisor Helia Singh knows more than most what it feels like to be in the minority.

When she arrived in Australia from Iran as a young adult in 1996, she spoke no English and knew no one outside of her own family. 

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JobKeeper extended

With the initial phase of the JobKeeper program due to conclude on 27 September 2020, yesterday the Government announced a second phase which will extend the program for an additional six months through to 28 March 2021. The MFAA welcomes this announcement and the extension of this important economic support measure.

The second phase has a lower two-tier payment structure and a requirement to retest employer eligibility.

News

Mortgage and Finance Industry Bushfire Relief Fund directly assists 4,380 Australians

Earlier this year our industry came together to raise over half a million dollars to help those impacted by the Black Summer disaster through the Mortgage and Finance Industry Bushfire Relief Fund.

Now, Australian Red Cross has provided a progress report at the six-month mark of their bushfire grants and recovery program.

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MFAA CEO Message: MFAA membership fees to remain unchanged for FY21

"Just a very short message today to let you know that following completion of the MFAA budgeting process for FY21, we have finalised membership fees for the coming year and are pleased to advise that we have been able to keep fees in all categories of membership unchanged for the full duration of FY21," MFAA CEO Mike Felton said.

Pathway to Broking eBook

So you want to become a finance broker? Brokers help consumers achieve their life dreams whether it be buying a home to assist laying the foundations for financial prosperity or financing a dream business. Download our free Pathway to Broking eBook to discover how to begin your journey as a broker today.

News

Prospa Groundbreakers: PJ Patterson of Keystone Financial


PJ Patterson of Keystone Financial recently received the MFAA State Excellence Community Champion Award NSW/ACT, and it is not difficult to see why.

Two years ago, PJ realised it was time to give more back. Fortuitously, he was introduced to the global philanthropic B1G1 (Buy1Give1) endeavour, and the rest is history.

MFAA CEO Message & Update

Today, ASIC has released its updated regulatory guidance on the Best Interests Duty for mortgage brokers - the final ASIC Regulatory Guide 273. This follows the draft document released earlier this year, which was the subject of consultation by ASIC during February and March. The MFAA welcomes the guidance and the amendments made to the draft. We believe the changes have strengthened and clarified the guidance on what is expected of mortgage brokers and the manner in which compliance with the new legislation will be assessed.

News

Free consumer article: 5 Ways to Fund a Renovation

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

This week’s consumer article seeks to assist those interested in renovating their property with some finance options that may be available.

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Top industry professionals recognised at MFAA State Excellence Awards 2020

The MFAA State Excellence Awards 2020 has wrapped-up with the first ever virtual Excellence Awards recognising each state and territories most outstanding finance industry professionals proving to be a success.

After a uniquely challenging year, the awards provided a much-needed and much-deserved opportunity to celebrate the wonderful work being done by MFAA members in the mortgage and finance broking industry on behalf of their clients throughout the state and territory.

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MFAA Champions of Diversity - Mary Nebotakis, Natloans

Adaptability, resilience and the importance of embracing change are the things that Natloans CEO and Founder Mary Nebotakis believes are integral to ensuring longevity in mortgage and finance broking.

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MFAA National Mortgage Managers Forum – Expression of Interest

The MFAA is in the process of re-establishing the MFAA National Mortgage Managers Forum to allow and encourage engagement with this key industry sector and to ensure that the views of mortgage managers are given clarity and are carefully considered, particularly where the MFAA is responding to consultation from Government and from Regulators.

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Prospa Groundbreakers: Huy Truong of ALI Group - Part 2

Huy Truong of ALI is not your ordinary Australian businessman or MFAA Prospa Groundbreaker. As a young child in 1978, Huy and his family boarded a fishing trawler with 24 others to escape the oppressive aftermath of the Vietnam War and start a new life in Melbourne, Australia.

News

Prospa Groundbreakers: Huy Truong of ALI Group

Huy Truong of ALI is not your ordinary Australian businessman or MFAA Prospa Groundbreaker. As a young child in 1978, Huy and his family boarded a fishing trawler with 24 others to escape the oppressive aftermath of the Vietnam War and start a new life in Melbourne, Australia.

BID/REM Legislation and Explanatory Memorandum

Financial Sector Reform (Hayne Royal Commission Response—Protecting Consumers (2019 Measures)) Act 2020. 
(No.2, 2020)

The Financial Sector Reform (Hayne Royal Commission Response –  Protecting Consumers (2019 Measures)) Act 2019 (Cth) was passed by the Federal Parliament and Assent was given on 17 February 2020. The legislation is effective for mortgage brokers from 1 January 2021.

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Best interest duty, remuneration changes and other mortgage broking reforms delayed

The Australian Securities & Investments Commission (ASIC) has announced deferral of the commencement date of the mortgage broker best interest duty and remuneration reforms and the design and distribution obligations for six months from their original commencement dates.

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MFAA Champions of Diversity - Renee Tocco, LOANEZI

With an entrepreneurial flair and a good understanding of customer needs shaped by more than a decade in senior corporate sales roles, LOANEZI founder and Managing Director, Renee Tocco has long recognised the business benefits of diversity and inclusion.