Brokerage snaps up big bank credit expert

by Miklos Bolza25 Jul 2017
Sydney-based mortgage broker Mint Equity has expanded its team and strengthened its offerings by bringing on a credit specialist formerly of one of the big four banks.

At the beginning of July, Brad Lees joined the firm as a senior credit assessor and credit coach after working for nine years at National Australia Bank (NAB). He has 19 years of industry experience working across financial planning, broking and banking.

The timing was ripe for the new appointment, especially with the new raft of regulatory changes recently brought in by ASIC and APRA, Mint Equity director Zac Peteh told Australian Broker.

“With some of the guys who may be coming on board in the next six to 12 months, this provides a better platform. They’ve got an in-house senior credit assessor along with the accompanying support and framework so they can just go out and focus on what they do best.

“We’ve got some exposure with commercial loans, SMSF loans and business loans which can get a bit tricky when you’re trying to do multiple entities, corporate trees and other things. Brad’s all over that so I can focus on the front end, give him all the info that he needs, and then he can put all of that together.”

The training Lees received from big four banks such as NAB imbued him with more variety, experience and value to Mint Equity, Peteh said.

The ultimate aim with is to ensure complete compliance and that all concerns are addressed before handing in applications, he added, especially with regards to how future loans may be handled.

“The way it’s going with quality metrics, I think it’ll be similar to what CBA had in the past with submissions. If you satisfied certain metrics, you might receive additional commission payments with a trail commission. Once the ASIC review is done, I wonder whether or not that’ll be a by-product with quality metrics for broker deals.”

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COMMENTS

  • by Mac 25/07/2017 9:02:47 AM

    I'm sure he's very competent but just because someone worked for a big bank doesn't really mean much to me!! I would back my knowledge of trusts / company tress etc over almost all credit assessor and I never worked for a big bank. Autodidactic.

  • by Nick 25/07/2017 9:52:30 AM

    Fantastic appointment and good to see someone make positive moves to capture some of the many opportunities available in the Commercial Lending Market

  • by Rob 25/07/2017 12:39:48 PM

    I spent 25 years working for 2 of the big banks before becoming a broker. When I became a broker I thought given my banking background I knew it all. Boy was I in for a culture shock. I soon learned how much I didn't know and spent the next 2 years re-educating myself about the reality of the big wide world out there. That being said, it is good for a brokerage to have a compliance minded team member on board.