About mentoring

The industry requires members who are new to mortgage broking to find and engage with their own mentor for two (2) years.

The mentor helps mentees by:

  • Explaining the practical elements of customer engagement and loan writing
  • Guiding the mentee through a defined set of lending scenarios and associated workflow processes
  • Assisting the mentee in submitting high quality, compliant loan applications to lender partners
  • Assisting in gaining new business and building a network
  • Helping the mentee understand the industry, key relationships and overall responsibilities.

Who can be a mentor?

A mentor should:

  • Be a current MFAA member
  • Hold the Diploma of Finance and Mortgage Broking Management
  • Have four years’ experience in loan writing (or have settled 50-plus finance applications)
  • Preferably be working under the same aggregation group
  • Have a structured program to guide the mentee
  • Have a written agreement that states the parameters of the mentoring process and what it will deliver, particularly if payment for services is involved
  • Sign off completion of the mentoring process at the first annual membership renewal and upon completion of the two-year period. This is done by completing the Mentor Declaration Form.

The mentoring program

Mentors need to offer their mentee a structured program.

Mentors can create their own program by following the key focus areas or enrol in the MFAA’s Mentoring Program which is delivered by the Institute of Strategic Management (ISM).

Find a mentor

As a new broker, you are required to have a qualified mentor you for the first two years of your career. Your mentor will help you with the day-to-day aspects of being a finance broker.

Become a mentor

We encourage quality Member brokers to consider becoming mentors - to offer their services to the next generation of mortgage brokers and to help increase the quality and standard of the finance industry.