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One in four mortgage brokers closing shop

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Australian Broker | 04 Jul 2011, 06:30 AM Agree 0
A slowing mortgage market has seen one in four mortgage broking firms close its doors in the 12 months to March, new research says
  • Whistleblower | 04 Jul 2011, 02:11 PM Agree 0

    What's even more interesting is:

    That out of the 5,559 ASIC-ACL licences, a large number have secured an ACL so as to protect their trail incomes from sources that threatened to steal their trails if they didn't have an ACL.

    I know MANY who have an ACL, then left the industry.... measure that!
  • Daniel Son | 04 Jul 2011, 02:23 PM Agree 0
    No surpise. If we could earn a dollar doing something else I'm sure most of us would.
  • not a broker | 04 Jul 2011, 05:33 PM Agree 0
    Did I read it right ? One in 4 brokers quitted ! Tell me I am not crazy, or I am, thinking of paying thousands $$ to buy a franchise.
  • Ozboy | 05 Jul 2011, 10:30 AM Agree 0
    not a broker, your crazy!
  • sidbroker | 05 Jul 2011, 11:45 AM Agree 0
    To not a broker, At least you have asked the question, If you go against ozboys advise then you can be re classified as you know what. If you still want to be a broker then why not send me a blank cheque. That would be a good way for my business to make money at your expense.
  • matto | 05 Jul 2011, 04:18 PM Agree 0
    Only 119 broking firms sold a single mortgage in the March quarter?? That is extremely hard to believe. What is their definition of "broking firm"?
  • 1martym1 | 06 Jul 2011, 08:55 AM Agree 0
    I think they meant aggregator not brokerage.
  • petert71 | 07 Jul 2011, 12:50 PM Agree 0
    Only 119 groups sold a home loan? Home many brokers/aggregators do they actually beleive there are?
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