Bank outsourcing a boon to brokers: Naylor

by Adam Smith22 Feb 2012

MFAA chief executive Phil Naylor has predicted 2012 will see a boost for the mortgage broker job market.

Naylor has echoed comments from AFG's Mark Hewitt, saying that mooted bank job cuts could prove a boon to mortgage broker numbers.

"Many of the new jobs to be added will be filled by former staff members of the major banks, which are seeking to control their costs while maintaining their strict lending and service practices by using MFAA accredited members," Naylor claimed.

Naylor said broker market share for 2011 reached more than 43%, and suggested that this number could climb as banks cut back on staff and ramp up distribution through the third party in order to outsource many of their functions.

"We expect that the mortgage broker share of the market should expand further this year. We are seeing quite a few of our corporate members looking to expand their mortgage broking operations and lift their standards to meet customer expectations," he said.

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