Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Lenders speak up on broker's cancelled accreditation

Notify me of new replies via email
Australian Broker | 02 May 2014, 08:00 AM Agree 0
Lenders have had their say on the issue of a broker who had his accreditation cancelled without being provided a reason
  • Dave Robinson | 02 May 2014, 09:22 AM Agree 0
    So it's Westpac!
  • Concerned Broker | 02 May 2014, 10:07 AM Agree 0
    Christopher...its NAB!!!

    It is quite clear from reading above tbat MFAA and FBAA and the Agregators if they are serious in protecting the interests of their members to ensure standardised agreements are put in place and that agreements between brokers and Agregators must fully disclose the relationship agreements with Llenders. It is quite clear that NAB has something to hide and their contract clause is Draconian. Brokers take this may happen to ypu...I am aware in one case that a Broker just was not personally liked and he had his accrediation removed. If you are serious aboit your business, you must ensure you have your contracts legally checked before you sign withyour agreegator.
  • Steve McClure | 02 May 2014, 11:00 AM Agree 0
    Maybe its better left un-said. I don't know the case, but wouldn't it be worse if lender recorded "submitting fraudulent information" due to the broker missing the fact that a pay slip he received had been altered by the client? But agree, conversation at least.
  • wayne | 02 May 2014, 12:12 PM Agree 0
    Oh its Westpac I know the broker and its the customer that did the wrong thing
    The broker is from a good company and they had
    moved there business because of service levels and the aggregator would not back them
  • Interested Broker | 02 May 2014, 02:26 PM Agree 0
    I am not sure as to why these two commenters believe the Bank is Westpac when clearly the article states the bank that cancelled his accreditation is NAB.

    Looking forward to the follow up article with the Banks response.
Post a reply