The MFAA has bolstered its national board of directors, appointing four new members.
Brokers can still have a good business by focussing on mortgages. But there is value in diversifying.
The business models of some online mortgage broking services
underestimate the work of the broker and are unsustainable in the long
run, according to Vow Financial chief executive Tim Brown.
Should brokers consider themselves salespeople or
financial advisers? The Adviser looks at the evolution of the third
party distribution channel.
National Mortgage Broker's managing director Gerald Foley has slammed
comments from various aggregation heads that refer to white label
products as a "conflict of interest".
A leading economist has told one broker group that those who posit the
existence of a housing bubble in Australia are 'misguided'.
Mortgage brokers can potentially boost their business values to
more than three times annual revenue if they diversify into services
such as financial planning, according to Vow Financial chief executive
The prospects for mortgage brokers in 2013 are probably the most
promising since the Global Financial Crisis, one aggregation head has
While a number of companies rooted in mortgage broking have
expanded into the financial planning arena, a roundtable conducted by
Money Management has confirmed that while progress is being made, it
remains an area of cultural, regulatory and legal challenge.
Vow Financial has signed a deal that will see brokers refer low-doc deals directly to Pepper Home Loans.
Brokers who want to service the low doc market, but don't feel
comfortable doing so, have been given a free pass from one lender.
A leading economist has severely criticized the notion that Australian housing is in a price bubble.
Last month, The Adviser revealed that a
majority of brokers will review their aggregation contract within 12
months. Concluding this two-part feature, we ask brokers what would
influence a decision to switch aggregators.
The Australian property market currently favours
investors, opening the door for brokers looking for opportunities beyond
the owner occupier sector.
While new data shows the non-majors' market share is growing, one
aggregation head has claimed a lack of innovation is ultimately stopping
the sector from nabbing a greater slice of the pie.
Financial planning firms are increasingly likely to link with mortgage
brokers, but the different skill sets, remuneration models and legal
interpretations remain a barrier to planners actually writing mortgages.
Brokers and banks have become increasingly wary of low doc lending
leaving some questioning the viability of the sector moving forward.
The stakes are high for aggregators looking to recruit members, with new research revealing a majority of brokers will "review" their contract within the next 12 months. In an industry first, The Adviser surveyed the industry to reveal what drives the choices brokers make when deciding which aggregators to join.
A day in the life of...Tim Brown
An aggregator has appointed an on-boarding manager as a result of an influx of recruits in recent months.