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Government must help spur mortgage competition: MFAA

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Australian Broker | 25 Mar 2014, 08:00 AM Agree 0
MFAA argues the government should step in to encourage banking competition to lower interest rates and boost loan product innovation
  • Maria Rigoni | 25 Mar 2014, 08:35 PM Agree 0
    So Phil who makes up the majority of the MFAA membership base. Lenders or brokers?
    If there was no claw back image the competition that the majority of your membership base could bring to the market place.
    Even better remove the identification of individual brokers within lender accreditation. Bring in a system whereby the aggregator knows the identification of the individual broker and the lender has no personal information on them or how much business individual brokers are giving them.
    That's fair the broker does not have any remuneration contract with the lender.
  • James | 26 Mar 2014, 10:10 AM Agree 0
    To me anyway, the biggest handcuff to competition is mortgage insurance. Above 80% or for the fully securitised lenders, they all dance to the beat of the same drum. There is far more competition below 80% I find.
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