MFAA defends role of mortgage brokers

The MFAA was disappointed by the ill-informed comments from consumer advocacy groups that were reported in the media today in regard to the ASIC Review of Mortgage Broker Remuneration. The MFAA believes the changes they proposed to broker commission models would be detrimental to consumers’ interests. 

The MFAA represents 12,900 brokers, each of whom is responsible only to consumers – their customers – and rely entirely on customer relationships and referral to grow their businesses.

MFAA concerned over UBS report on Broker Remuneration based on incorrect data

The Mortgage & Finance Association of Australia (MFAA) has expressed concern at a research report released today by UBS which claims that Australian mortgage brokers are ‘overpaid’, but has based its findings on incorrect data.

The report implies that for every mortgage written in 2015, brokers received an average remuneration per mortgage of $4,600, but this is not correct.

Federal minister shows his support for our industry

More than 200 members attended the MFAA breakfast in Sydney in May, where The Hon Michael McCormack MP - Federal Minister for Small Business and Member for Riverina - spoke about the unique challenges and opportunities the mortgage and finance industry is facing.